Stifel Nicolaus Lowers Applied Materials (AMAT) Price Target to $53.00

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Applied Materials (NASDAQ:AMAT) had its target price cut by research analysts at Stifel Nicolaus from $63.00 to $53.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 32.83% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $38.00 target price (down previously from $60.00) on shares of Applied Materials in a research note on Tuesday, October 23rd. DA Davidson reduced their target price on shares of Applied Materials to $55.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $50.96.

Shares of AMAT stock traded up $0.12 during mid-day trading on Monday, reaching $39.90. The company’s stock had a trading volume of 667,954 shares, compared to its average volume of 11,484,603. Applied Materials has a 1-year low of $28.79 and a 1-year high of $62.40. The stock has a market cap of $37.91 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.37 and a beta of 1.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.73 and a current ratio of 2.64.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4 billion. On average, sell-side analysts predict that Applied Materials will post 3.37 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Applied Materials by 13.6% in the fourth quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock valued at $756,588,000 after purchasing an additional 2,772,739 shares during the last quarter. Capital World Investors raised its holdings in shares of Applied Materials by 154.9% in the third quarter. Capital World Investors now owns 18,320,095 shares of the manufacturing equipment provider’s stock valued at $708,072,000 after purchasing an additional 11,133,180 shares during the last quarter. FMR LLC raised its holdings in shares of Applied Materials by 85.2% in the third quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock valued at $568,373,000 after purchasing an additional 6,766,709 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Applied Materials by 10.6% in the third quarter. OppenheimerFunds Inc. now owns 8,943,691 shares of the manufacturing equipment provider’s stock valued at $345,672,000 after purchasing an additional 853,704 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $338,188,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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