Applied Materials (NASDAQ:AMAT) PT Lowered to $225.00 at Mizuho

Applied Materials (NASDAQ:AMAT) had its price objective dropped by equities researchers at Mizuho from $245.00 to $225.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Mizuho’s price objective points to a potential upside of 17.68% from the company’s current price.

A number of other equities analysts have also weighed in on AMAT. JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Wells Fargo & Company boosted their price target on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $231.05.

Applied Materials Price Performance

Applied Materials stock traded down $5.51 during mid-day trading on Friday, hitting $191.20. 3,531,338 shares of the company were exchanged, compared to its average volume of 6,057,085. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials has a 12-month low of $129.21 and a 12-month high of $255.89. The business’s 50 day simple moving average is $199.38 and its two-hundred day simple moving average is $210.28. The company has a market capitalization of $158.31 billion, a P/E ratio of 22.00, a PEG ratio of 2.21 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Applied Materials will post 8.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Precision Wealth Strategies LLC raised its stake in shares of Applied Materials by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock valued at $502,000 after purchasing an additional 242 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Applied Materials by 11.1% in the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock worth $678,000 after acquiring an additional 418 shares during the period. Gryphon Financial Partners LLC boosted its holdings in shares of Applied Materials by 5.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock valued at $249,000 after acquiring an additional 84 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Applied Materials by 10.6% during the fourth quarter. Clearbridge Investments LLC now owns 197,905 shares of the manufacturing equipment provider’s stock valued at $32,074,000 after acquiring an additional 19,033 shares during the period. Finally, Quest Partners LLC bought a new stake in Applied Materials during the fourth quarter worth approximately $369,000. 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.