Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its target price lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $220.00 to $200.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the manufacturing equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 18.43% from the stock’s previous close.

Several other brokerages have also recently commented on AMAT. Mizuho decreased their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Morgan Stanley decreased their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group cut their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company decreased their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $219.81.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $168.88 on Friday. The company has a 50-day moving average of $190.88 and a 200-day moving average of $206.73. The firm has a market cap of $139.22 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials has a twelve month low of $141.94 and a twelve month high of $255.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Applied Materials by 29.8% during the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. WoodTrust Financial Corp lifted its holdings in shares of Applied Materials by 47.0% during the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after buying an additional 21,699 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Applied Materials by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock valued at $230,158,000 after acquiring an additional 15,183 shares during the period. Stiles Financial Services Inc grew its stake in shares of Applied Materials by 252.0% in the third quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock worth $957,000 after acquiring an additional 3,389 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Applied Materials by 89.3% in the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after acquiring an additional 4,239 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

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.