Applied Materials (NASDAQ:AMAT) Given New $200.00 Price Target at Barclays

by · The Markets Daily

Applied Materials (NASDAQ:AMAT – Get Free Report) had its price target lowered by Barclays from $225.00 to $200.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the manufacturing equipment provider’s stock. Barclays‘s price objective indicates a potential upside of 7.25% from the company’s previous close.

Several other research firms have also issued reports on AMAT. Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday. Bank of America lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Needham & Company LLC reduced their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, TD Cowen cut their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $217.41.

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Applied Materials Trading Up 4.5 %

AMAT opened at $186.48 on Friday. The stock has a market capitalization of $151.74 billion, a PE ratio of 21.66, a P/E/G ratio of 1.75 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials has a 12-month low of $150.20 and a 12-month high of $255.89. The firm’s fifty day moving average price is $173.25 and its 200 day moving average price is $191.65.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 earnings per share. As a group, research analysts expect that Applied Materials will post 9.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Materials

Hedge funds have recently modified their holdings of the company. Clean Yield Group bought a new position in Applied Materials during the third quarter valued at about $33,000. First PREMIER Bank lifted its holdings in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials during the 3rd quarter valued at about $37,000. DT Investment Partners LLC grew its stake in shares of Applied Materials by 592.9% in the 3rd 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 last quarter. Finally, City Holding Co. bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

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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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