Mizuho Issues Pessimistic Forecast for Applied Materials (NASDAQ:AMAT) Stock Price

by · The Cerbat Gem

Applied Materials (NASDAQ:AMAT – Free Report) had its target price trimmed by Mizuho from $220.00 to $210.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the manufacturing equipment provider’s stock.

Several other brokerages have also issued reports on AMAT. Wells Fargo & Company lowered their target price on Applied Materials from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Needham & Company LLC reduced their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Finally, Sanford C. Bernstein reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.71.

Read Our Latest Stock Analysis on AMAT

Applied Materials Trading Down 3.0 %

NASDAQ AMAT opened at $171.65 on Friday. The business’s fifty day moving average is $173.91 and its 200-day moving average is $193.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The stock has a market capitalization of $139.67 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.61 and a beta of 1.53. Applied Materials has a one year low of $148.48 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT – Get Free Report) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Applied Materials will post 9.48 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. Applied Materials’s dividend payout ratio is presently 18.58%.

Institutional Investors Weigh In On Applied Materials

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% during 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 buying an additional 53 shares in the last quarter. Merriman Wealth Management LLC raised its stake in shares of Applied Materials by 4.0% during the second quarter. Merriman Wealth Management LLC now owns 1,438 shares of the manufacturing equipment provider’s stock worth $339,000 after acquiring an additional 55 shares in the last quarter. Sargent Investment Group LLC lifted its holdings in shares of Applied Materials by 4.0% in the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after acquiring an additional 55 shares during the last quarter. Biltmore Family Office LLC boosted its stake in shares of Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after purchasing an additional 55 shares in the last quarter. Finally, waypoint wealth counsel grew its holdings in shares of Applied Materials by 3.1% during the 3rd quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock valued at $374,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

(Get Free Report)

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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