Applied Materials (NASDAQ:AMAT – Get Free Report) had its price objective lowered by The Goldman Sachs Group from $230.00 to $202.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the manufacturing equipment provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 17.68% from the company’s previous close.
AMAT has been the topic of a number of other research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. UBS Group cut their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Needham & Company LLC cut their target price 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. Mizuho cut their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.71.
Get Our Latest Stock Analysis on AMAT
Applied Materials Price Performance
Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. As a group, equities analysts expect that Applied Materials will post 9.48 EPS for the current year.
Institutional Trading of Applied Materials
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the second quarter valued at approximately $28,000. Clean Yield Group bought a new position in shares of Applied Materials in the third quarter worth approximately $33,000. First PREMIER Bank boosted its position in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials in the third quarter worth approximately $37,000. Finally, DT Investment Partners LLC boosted its position in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.
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.
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