Sanford C. Bernstein Lowers Applied Materials (NASDAQ:AMAT) Price Target to $210.00

Applied Materials (NASDAQ:AMAT) had its price objective lowered by stock analysts at Sanford C. Bernstein from $220.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the manufacturing equipment provider’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 20.20% from the stock’s previous close.

A number of other equities analysts also recently commented on AMAT. Mizuho dropped their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup reduced their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.48.

Applied Materials Trading Up 2.0 %

Shares of NASDAQ:AMAT opened at $174.71 on Friday. Applied Materials has a 12-month low of $144.57 and a 12-month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $144.03 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.56. The firm has a fifty day moving average of $188.11 and a two-hundred day moving average of $204.50.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts expect that Applied Materials will post 9.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Applied Materials during the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials in the 2nd quarter valued at $28,000. Clean Yield Group acquired a new position in shares of Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank lifted its holdings in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. Finally, PSI Advisors LLC boosted its position in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.