Applied Materials (NASDAQ:AMAT) Given New $179.00 Price Target at Morgan Stanley

Applied Materials (NASDAQ:AMAT) had its price target trimmed by Morgan Stanley from $185.00 to $179.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the manufacturing equipment provider’s stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. UBS Group decreased their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Finally, Susquehanna reduced their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Stock Down 9.2 %

Shares of Applied Materials stock traded down $17.12 on Friday, reaching $168.88. 16,287,484 shares of the company were exchanged, compared to its average volume of 6,137,177. The stock’s 50 day moving average price is $190.88 and its 200-day moving average price is $206.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials has a 1-year low of $141.94 and a 1-year high of $255.89. The company has a market cap of $139.22 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56.

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

Applied Materials Dividend Announcement

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 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 17.98%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMAT. Summit Securities Group LLC bought a new position in Applied Materials during the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the 2nd quarter valued at about $28,000. PSI Advisors LLC lifted its position in shares of Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Clean Yield Group acquired a new position in Applied Materials in the third quarter worth about $33,000. Finally, First PREMIER Bank increased its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

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.