Evercore ISI Lowers Applied Materials (NASDAQ:AMAT) Price Target to $250.00

Applied Materials (NASDAQ:AMAT) had its price target reduced by stock analysts at Evercore ISI from $260.00 to $250.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Evercore ISI’s price target would suggest a potential upside of 48.03% from the company’s current price.

AMAT has been the subject of several other reports. Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. UBS Group reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Mizuho lowered their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Susquehanna reduced their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Price Performance

AMAT stock opened at $168.88 on Friday. Applied Materials has a 1 year low of $141.94 and a 1 year high of $255.89. The firm has a market capitalization of $139.22 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The business has a 50 day simple moving average of $190.88 and a 200-day simple moving average of $206.73.

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

Institutional Trading of Applied Materials

Hedge funds have recently added to or reduced their stakes in the company. M&G Plc acquired a new stake in shares of Applied Materials in the 1st quarter valued at $2,645,000. Nicolet Advisory Services LLC lifted its holdings in Applied Materials by 7.6% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,827 shares of the manufacturing equipment provider’s stock worth $595,000 after buying an additional 200 shares during the last quarter. TIAA Trust National Association boosted its position in shares of Applied Materials by 0.6% during the 1st quarter. TIAA Trust National Association now owns 52,373 shares of the manufacturing equipment provider’s stock worth $10,801,000 after acquiring an additional 328 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Applied Materials by 218.9% during the first quarter. Acadian Asset Management LLC now owns 825,308 shares of the manufacturing equipment provider’s stock worth $170,182,000 after purchasing an additional 566,516 shares during the last quarter. Finally, Patten & Patten Inc. TN boosted its holdings in Applied Materials by 5.4% in the first quarter. Patten & Patten Inc. TN now owns 11,833 shares of the manufacturing equipment provider’s stock valued at $2,440,000 after purchasing an additional 605 shares in the last quarter. 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.