TD Cowen Has Lowered Expectations for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price target cut by equities research analysts at TD Cowen from $250.00 to $230.00 in a research note issued on Friday, Marketbeat reports. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. TD Cowen’s price target points to a potential upside of 36.19% from the company’s current price.

AMAT has been the topic of a number of other research reports. Stifel Nicolaus reduced their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. 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 note on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, UBS Group dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Price Performance

AMAT opened at $168.88 on Friday. 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 stock’s 50 day simple moving average is $190.88 and its 200 day simple moving average is $206.73. The firm has a market cap of $139.22 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.24 and a beta of 1.56. Applied Materials has a 1 year low of $141.94 and a 1 year high of $255.89.

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

Hedge Funds Weigh In On Applied Materials

Several institutional investors have recently made changes to their positions in AMAT. Summit Securities Group LLC bought a new position in Applied Materials in the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in Applied Materials in the 2nd quarter worth $28,000. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter worth $33,000. First PREMIER Bank lifted its position in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the first quarter worth about $35,000. Institutional investors 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.