Applied Materials (NASDAQ:AMAT) had its target price dropped by JPMorgan Chase & Co. from $63.00 to $54.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the manufacturing equipment provider’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 52.54% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus set a $63.00 price target on shares of Applied Materials and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research reiterated a “hold” rating on shares of Applied Materials in a research report on Monday, November 12th. B. Riley downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $36.00 in a research report on Monday, October 29th. Finally, Susquehanna Bancshares reiterated a “neutral” rating and issued a $38.00 price target (down from $60.00) on shares of Applied Materials in a research report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $53.10.

Shares of NASDAQ:AMAT opened at $35.40 on Friday. The company has a market capitalization of $33.01 billion, a P/E ratio of 7.96, a PEG ratio of 0.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.67 and a current ratio of 2.52. Applied Materials has a fifty-two week low of $30.53 and a fifty-two week high of $62.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. On average, analysts forecast that Applied Materials will post 4.18 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Applied Materials by 47.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,336,220 shares of the manufacturing equipment provider’s stock worth $785,997,000 after acquiring an additional 6,531,516 shares in the last quarter. Capital World Investors grew its stake in shares of Applied Materials by 154.9% during the 3rd quarter. Capital World Investors now owns 18,320,095 shares of the manufacturing equipment provider’s stock worth $708,072,000 after acquiring an additional 11,133,180 shares in the last quarter. FMR LLC grew its stake in shares of Applied Materials by 85.2% during the 3rd quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock worth $568,373,000 after acquiring an additional 6,766,709 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Applied Materials by 25.8% during the 2nd quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock worth $640,864,000 after acquiring an additional 2,844,738 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in shares of Applied Materials by 10.6% during the 3rd quarter. OppenheimerFunds Inc. now owns 8,943,691 shares of the manufacturing equipment provider’s stock worth $345,672,000 after acquiring an additional 853,704 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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