Needham & Company LLC Has Lowered Expectations for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price target decreased by equities researchers at Needham & Company LLC from $200.00 to $195.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 15.25% from the stock’s previous close.

AMAT has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Bank of America decreased their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Mizuho dropped their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Susquehanna boosted their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Barclays dropped their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $216.10.

Applied Materials Trading Down 8.2 %

NASDAQ AMAT opened at $169.20 on Friday. Applied Materials has a 12 month low of $158.96 and a 12 month high of $255.89. The stock has a 50-day simple moving average of $175.36 and a 200 day simple moving average of $184.59. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $137.51 billion, a PE ratio of 19.65, a P/E/G ratio of 1.86 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Research analysts forecast that Applied Materials will post 9.38 EPS for the current year.

Institutional Trading of Applied Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP raised its holdings in shares of Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares during the period. Sargent Investment Group LLC increased its position in Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after buying an additional 55 shares during the last quarter. Biltmore Family Office LLC raised its stake in Applied Materials by 5.3% in the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after buying an additional 55 shares during the period. Field & Main Bank lifted its position in shares of Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after buying an additional 55 shares during the last quarter. Finally, BSW Wealth Partners boosted its stake in shares of Applied Materials by 1.3% during the 3rd quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock worth $860,000 after acquiring an additional 56 shares during the period. 80.56% of the stock is owned by 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.