Wells Fargo & Company Lowers Applied Materials (NASDAQ:AMAT) Price Target to $200.00

Applied Materials (NASDAQ:AMAT) had its target price trimmed by Wells Fargo & Company from $210.00 to $200.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the manufacturing equipment provider’s stock.

A number of other research firms have also commented on AMAT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. Needham & Company LLC reduced their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, Stifel Nicolaus decreased their target price on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.24.

Applied Materials Price Performance

NASDAQ AMAT opened at $170.86 on Monday. The stock has a market cap of $139.03 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.61 and a beta of 1.53. The business has a 50 day simple moving average of $173.69 and a 200 day simple moving average of $192.18. Applied Materials has a 52-week low of $149.84 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

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

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials during the second quarter valued at approximately $28,000. Clean Yield Group bought a new stake in Applied Materials during the third quarter valued at about $33,000. First PREMIER Bank grew its position in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter worth $37,000. Finally, DT Investment Partners LLC raised its stake 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 valued at $39,000 after buying an additional 166 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.