Applied Materials (NASDAQ:AMAT) had its target price reduced by research analysts at Imperial Capital from $62.00 to $47.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the manufacturing equipment provider’s stock. Imperial Capital’s price target would indicate a potential upside of 36.55% from the company’s current price.

Several other research firms have also recently weighed in on AMAT. Citigroup lowered their price objective on Applied Materials from $68.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, September 25th. Zacks Investment Research cut Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 price objective on shares of Applied Materials in a research report on Friday, August 17th. BidaskClub upgraded Applied Materials from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, B. Riley lowered their price objective on Applied Materials from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $52.82.

Shares of Applied Materials stock opened at $34.42 on Tuesday. Applied Materials has a 1 year low of $30.53 and a 1 year high of $62.40. The firm has a market cap of $34.80 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.64 and a quick ratio of 1.73.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4 billion. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. On average, sell-side analysts forecast that Applied Materials will post 4.18 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kaizen Advisory LLC grew its position in Applied Materials by 147.4% in the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock valued at $118,000 after acquiring an additional 1,526 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of Applied Materials by 5,102.0% during the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Applied Materials by 127.1% during the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock valued at $141,000 after purchasing an additional 1,709 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Applied Materials by 24.3% during the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 1,228 shares in the last quarter. Finally, ELM Advisors LLC acquired a new stake in shares of Applied Materials during the third quarter valued at about $157,000. Institutional investors own 78.74% 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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