Applied Materials (AMAT) PT Lowered to $57.00

Applied Materials (NASDAQ:AMAT) had its price objective decreased by investment analysts at Citigroup from $68.00 to $57.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the manufacturing equipment provider’s stock. Citigroup’s price target indicates a potential upside of 48.98% from the stock’s current price.

AMAT has been the subject of a number of other reports. BidaskClub upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Bank of America reduced their target price on shares of Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Nomura reduced their target price on shares of Applied Materials from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, August 20th. Evercore ISI reduced their target price on shares of Applied Materials to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Finally, Stifel Nicolaus reduced their target price on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $62.09.

NASDAQ:AMAT opened at $38.26 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.52 and a debt-to-equity ratio of 0.78. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.78 and a beta of 1.53. Applied Materials has a fifty-two week low of $37.39 and a fifty-two week high of $62.40.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. equities research analysts predict that Applied Materials will post 4.45 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Management Associates NY purchased a new stake in shares of Applied Materials in the second quarter valued at about $280,000. Credit Agricole S A grew its holdings in shares of Applied Materials by 5,016.8% in the second quarter. Credit Agricole S A now owns 24,100 shares of the manufacturing equipment provider’s stock valued at $1,113,000 after purchasing an additional 23,629 shares during the period. American Money Management LLC grew its holdings in shares of Applied Materials by 19.2% in the second quarter. American Money Management LLC now owns 21,660 shares of the manufacturing equipment provider’s stock valued at $1,000,000 after purchasing an additional 3,495 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in shares of Applied Materials in the second quarter valued at about $162,000. Finally, Rampart Investment Management Company LLC grew its holdings in shares of Applied Materials by 11.9% in the second quarter. Rampart Investment Management Company LLC now owns 100,748 shares of the manufacturing equipment provider’s stock valued at $4,654,000 after purchasing an additional 10,687 shares during the period. 77.16% of the stock is owned by hedge funds and other institutional investors.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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