Applied Materials (NASDAQ:AMAT) had its target price cut by UBS Group from $43.00 to $39.00 in a research note released on Friday, 99wallstreet.com reports. They currently have a neutral rating on the manufacturing equipment provider’s stock.

Several other analysts also recently issued reports on AMAT. Cowen upgraded Applied Materials from a market perform rating to an outperform rating and boosted their price objective for the stock from $60.00 to $62.00 in a report on Monday, August 6th. Morgan Stanley downgraded Applied Materials from an overweight rating to an equal weight rating and cut their price objective for the stock from $58.00 to $54.00 in a report on Thursday, August 9th. Wells Fargo & Co cut their price objective on Applied Materials from $65.00 to $60.00 and set an outperform rating on the stock in a report on Friday, August 17th. Stifel Nicolaus cut their price objective on Applied Materials from $75.00 to $70.00 and set a buy rating on the stock in a report on Friday, August 17th. Finally, KeyCorp cut their price objective on Applied Materials from $75.00 to $71.00 and set an overweight rating on the stock in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $53.10.

Shares of Applied Materials stock opened at $35.40 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78. Applied Materials has a 52 week low of $30.53 and a 52 week high of $62.40. The stock has a market capitalization of $34.80 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.60.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. As a group, analysts predict that Applied Materials will post 4.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 2.26%. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

Large investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC grew its stake in shares of Applied Materials by 8.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 12,761 shares of the manufacturing equipment provider’s stock valued at $589,000 after buying an additional 1,001 shares in the last quarter. Cadence Capital Management LLC grew its stake in shares of Applied Materials by 17.9% in the 2nd quarter. Cadence Capital Management LLC now owns 6,702 shares of the manufacturing equipment provider’s stock valued at $310,000 after buying an additional 1,018 shares in the last quarter. Elite Wealth Management Inc. grew its stake in shares of Applied Materials by 8.4% in the 2nd quarter. Elite Wealth Management Inc. now owns 13,901 shares of the manufacturing equipment provider’s stock valued at $642,000 after buying an additional 1,081 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Applied Materials by 30.5% in the 2nd quarter. Parallel Advisors LLC now owns 4,657 shares of the manufacturing equipment provider’s stock valued at $215,000 after buying an additional 1,088 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Applied Materials by 24.3% in the 2nd quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 1,228 shares in the last quarter. 78.74% of the stock is currently owned by institutional investors.

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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