Applied Materials (NASDAQ:AMAT) Price Target Cut to $210.00 by Analysts at Bank of America

Applied Materials (NASDAQ:AMAT) had its price target dropped by Bank of America from $220.00 to $210.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. Bank of America‘s price objective suggests a potential upside of 12.90% from the company’s current price.

Several other brokerages have also recently issued reports on AMAT. Wells Fargo & Company reduced their price target on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Susquehanna cut their price objective on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday. Needham & Company LLC decreased their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $219.81.

Applied Materials Stock Up 1.8 %

Shares of NASDAQ:AMAT opened at $186.00 on Friday. The business has a 50-day moving average price of $190.88 and a 200 day moving average price of $207.13. Applied Materials has a 12-month low of $141.94 and a 12-month high of $255.89. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $153.34 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Applied Materials will post 8.51 EPS for the current year.

Institutional Trading of Applied Materials

Several large investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Applied Materials during the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials in the second quarter worth about $28,000. PSI Advisors LLC grew its stake in shares of Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Applied Materials during the 3rd quarter valued at about $33,000. Finally, First PREMIER Bank lifted its position in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.