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

Applied Materials (NASDAQ:AMAT) had its target price cut by investment analysts at Stifel Nicolaus from $63.00 to $53.00 in a note issued to investors on Monday, The Fly reports. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 32.83% from the company’s current price.

Several other equities research analysts have also weighed in on AMAT. KeyCorp restated an “overweight” rating and set a $56.00 price target (down from $71.00) on shares of Applied Materials in a research report on Friday, November 16th. Deutsche Bank reduced their price objective on Applied Materials from $43.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, November 16th. BidaskClub upgraded Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research cut Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $50.96.

NASDAQ AMAT traded up $0.12 on Monday, reaching $39.90. The company had a trading volume of 667,954 shares, compared to its average volume of 11,484,603. The firm has a market capitalization of $37.91 billion, a P/E ratio of 8.97, a PEG ratio of 1.37 and a beta of 1.69. Applied Materials has a 52-week low of $28.79 and a 52-week high of $62.40. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78.



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

Institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its position in shares of Applied Materials by 154.9% in the 3rd quarter. Capital World Investors now owns 18,320,095 shares of the manufacturing equipment provider’s stock worth $708,072,000 after purchasing an additional 11,133,180 shares during the last quarter. Capital International Investors bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $338,188,000. Oregon Public Employees Retirement Fund grew its position in shares of Applied Materials by 3,039.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,203,498 shares of the manufacturing equipment provider’s stock valued at $251,000 after buying an additional 7,942,210 shares during the last quarter. FMR LLC grew its position in shares of Applied Materials by 85.2% during the 3rd quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock valued at $568,373,000 after buying an additional 6,766,709 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Applied Materials by 47.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,336,220 shares of the manufacturing equipment provider’s stock valued at $785,997,000 after buying an additional 6,531,516 shares during the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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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