Deutsche Bank Aktiengesellschaft Cuts Applied Materials (NASDAQ:AMAT) Price Target to $230.00

Applied Materials (NASDAQ:AMAT) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $260.00 to $230.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a hold rating on the manufacturing equipment provider’s stock.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an overweight rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday. Mizuho increased their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the stock a buy rating in a report on Friday, May 17th. B. Riley decreased their target price on shares of Applied Materials from $300.00 to $280.00 and set a buy rating on the stock in a research report on Friday. TD Cowen upped their price target on shares of Applied Materials from $245.00 to $250.00 and gave the stock a buy rating in a research report on Friday, May 17th. Finally, UBS Group decreased their price target on shares of Applied Materials from $235.00 to $220.00 and set a neutral rating on the stock in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $233.14.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $207.90 on Friday. Applied Materials has a 1-year low of $129.21 and a 1-year high of $255.89. The firm has a 50 day simple moving average of $222.50 and a 200-day simple moving average of $210.02. The firm has a market cap of $172.14 billion, a PE ratio of 23.90, a P/E/G ratio of 2.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm posted $1.90 EPS. Applied Materials’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Applied Materials will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling at Applied Materials

In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the transaction, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Teri A. Little sold 2,500 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares in the company, valued at $16,890,103.44. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock valued at $21,382,560 in the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Applied Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Applied Materials by 1.2% during the first quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock valued at $15,469,028,000 after purchasing an additional 891,446 shares during the last quarter. Capital International Investors lifted its position in shares of Applied Materials by 3.2% in the 4th quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider’s stock worth $3,566,418,000 after buying an additional 682,098 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Applied Materials by 1.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,738,382 shares of the manufacturing equipment provider’s stock valued at $2,226,581,000 after buying an additional 224,296 shares during the period. Bank of New York Mellon Corp grew its position in shares of Applied Materials by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 11,260,630 shares of the manufacturing equipment provider’s stock valued at $2,322,280,000 after buying an additional 360,002 shares during the last quarter. Finally, Norges Bank acquired a new stake in Applied Materials during the fourth quarter worth about $1,514,814,000. 80.56% of the stock is owned by institutional investors.

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.