Applied Materials (NASDAQ:AMAT) Given New $225.00 Price Target at Needham & Company LLC

Applied Materials (NASDAQ:AMAT) had its target price cut by Needham & Company LLC from $240.00 to $225.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the manufacturing equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. Susquehanna cut their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Mizuho dropped their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. Finally, B. Riley reduced their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Trading Down 9.2 %

Shares of AMAT stock traded down $17.12 during mid-day trading on Friday, reaching $168.88. 16,287,484 shares of the stock traded hands, compared to its average volume of 6,137,177. The stock’s fifty day simple moving average is $190.88 and its two-hundred day simple moving average is $206.73. Applied Materials has a 1-year low of $141.94 and a 1-year high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, research analysts anticipate that Applied Materials will post 8.51 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

Hedge Funds Weigh In On Applied Materials

Several hedge funds have recently modified their holdings of AMAT. Swedbank AB bought a new stake in Applied Materials during the first quarter worth $773,611,000. EdgePoint Investment Group Inc. increased its position in shares of Applied Materials by 341.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock valued at $577,288,000 after purchasing an additional 2,209,218 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Applied Materials by 67.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after purchasing an additional 1,884,153 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Applied Materials by 262.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after buying an additional 1,006,937 shares during the period. Institutional investors own 80.56% of the company’s stock.

About Applied Materials

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.