The Goldman Sachs Group Cuts Applied Materials (NASDAQ:AMAT) Price Target to $202.00

Applied Materials (NASDAQ:AMAT) had its price target lowered by The Goldman Sachs Group from $230.00 to $202.00 in a research report sent to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the manufacturing equipment provider’s stock.

A number of other research analysts have also issued reports on the stock. Evercore ISI reduced their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna cut their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Stock Performance

AMAT opened at $171.65 on Friday. The stock’s 50 day simple moving average is $173.91 and its 200 day simple moving average is $192.62. The stock has a market cap of $139.67 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.61 and a beta of 1.53. Applied Materials has a 1-year low of $148.48 and a 1-year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $2.12 EPS. As a group, equities analysts anticipate that Applied Materials will post 9.48 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Institutional Investors Weigh In On Applied Materials

Several institutional investors and hedge funds have recently bought and sold shares of AMAT. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the 2nd quarter valued at $28,000. Clean Yield Group acquired a new position in shares of Applied Materials during the third quarter valued at $33,000. First PREMIER Bank raised its stake in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials during the third quarter valued at about $37,000. Finally, DT Investment Partners LLC lifted its holdings in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Company Profile

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.