Applied Materials (NASDAQ:AMAT) Price Target Lowered to $88.00 at Morgan Stanley

Applied Materials (NASDAQ:AMATGet Rating) had its price objective cut by Morgan Stanley from $89.00 to $88.00 in a report published on Monday morning, MarketBeat reports. They currently have an equal weight rating on the manufacturing equipment provider’s stock.

Other analysts have also recently issued reports about the company. Susquehanna increased their price objective on Applied Materials from $80.00 to $92.00 and gave the company a neutral rating in a research note on Friday, November 18th. Barclays boosted their target price on Applied Materials from $70.00 to $80.00 and gave the stock an equal weight rating in a research report on Friday, November 18th. Stifel Nicolaus lowered their price target on Applied Materials from $197.00 to $184.00 in a report on Friday, August 19th. New Street Research raised Applied Materials from a neutral rating to a buy rating and set a $115.00 target price on the stock in a research note on Friday, October 21st. Finally, Evercore ISI increased their price target on Applied Materials from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, November 18th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of Moderate Buy and a consensus target price of $120.64.

Applied Materials Stock Performance

Shares of AMAT stock opened at $107.67 on Monday. The stock has a market cap of $92.63 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49. The business has a 50-day simple moving average of $89.50 and a 200-day simple moving average of $97.16. The company has a quick ratio of 1.35, a current ratio of 2.16 and a debt-to-equity ratio of 0.45. Applied Materials has a 52-week low of $71.12 and a 52-week high of $167.06.

Applied Materials (NASDAQ:AMATGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.30. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.44 billion. Applied Materials had a return on equity of 56.62% and a net margin of 25.31%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share. On average, equities analysts expect that Applied Materials will post 6.84 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, November 23rd. Applied Materials’s payout ratio is 13.98%.

Institutional Trading of Applied Materials

Several hedge funds and other institutional investors have recently bought and sold shares of AMAT. Toroso Investments LLC raised its position in shares of Applied Materials by 4.7% in the 3rd quarter. Toroso Investments LLC now owns 35,731 shares of the manufacturing equipment provider’s stock valued at $2,927,000 after buying an additional 1,590 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Applied Materials by 17.4% in the 3rd quarter. CVA Family Office LLC now owns 2,329 shares of the manufacturing equipment provider’s stock valued at $191,000 after purchasing an additional 345 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Applied Materials by 3.5% during the third quarter. IHT Wealth Management LLC now owns 6,967 shares of the manufacturing equipment provider’s stock worth $571,000 after acquiring an additional 238 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Applied Materials by 37.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 17,813 shares of the manufacturing equipment provider’s stock worth $1,460,000 after buying an additional 4,817 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Applied Materials in the third quarter valued at about $20,691,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

Applied Materials Company Profile

(Get Rating)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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