Applied Materials (NASDAQ:AMAT) Given New $88.00 Price Target at Morgan Stanley

Applied Materials (NASDAQ:AMATGet Rating) had its target price lowered by Morgan Stanley from $89.00 to $88.00 in a research note published on Monday morning, MarketBeat reports. The firm currently has an equal weight rating on the manufacturing equipment provider’s stock.

A number of other equities research analysts have also recently commented on the company. Summit Insights upgraded Applied Materials from a hold rating to a buy rating in a research note on Friday, November 18th. StockNews.com cut Applied Materials from a buy rating to a hold rating in a research note on Saturday, October 15th. Citigroup reduced their target price on Applied Materials from $150.00 to $135.00 and set a buy rating for the company in a report on Thursday, November 17th. Barclays boosted their price objective on Applied Materials from $70.00 to $80.00 and gave the stock an equal weight rating in a report on Friday, November 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Applied Materials from $95.00 to $110.00 and gave the stock a buy rating in a report on Friday, November 18th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $120.64.

Applied Materials Stock Up 0.8 %

Shares of NASDAQ AMAT opened at $107.67 on Monday. The company has a 50 day simple moving average of $89.50 and a 200 day simple moving average of $97.16. The firm has a market cap of $92.63 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49. Applied Materials has a 1 year low of $71.12 and a 1 year high of $167.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.16 and a quick ratio of 1.35.

Applied Materials (NASDAQ:AMATGet Rating) last released its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.30. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.44 billion. Applied Materials had a net margin of 25.31% and a return on equity of 56.62%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 EPS. On average, research analysts forecast that Applied Materials will post 6.84 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Applied Materials’s payout ratio is currently 13.98%.

Institutional Investors Weigh In On Applied Materials

Institutional investors have recently modified their holdings of the stock. Mader & Shannon Wealth Management Inc. boosted its holdings in shares of Applied Materials by 0.5% in the first quarter. Mader & Shannon Wealth Management Inc. now owns 18,122 shares of the manufacturing equipment provider’s stock valued at $2,388,000 after acquiring an additional 96 shares in the last quarter. Boston Financial Mangement LLC grew its stake in Applied Materials by 2.0% in the 2nd quarter. Boston Financial Mangement LLC now owns 4,934 shares of the manufacturing equipment provider’s stock valued at $449,000 after buying an additional 96 shares during the last quarter. Formidable Asset Management LLC grew its position in Applied Materials by 2.9% in the 1st quarter. Formidable Asset Management LLC now owns 3,605 shares of the manufacturing equipment provider’s stock worth $475,000 after purchasing an additional 100 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its position in Applied Materials by 3.1% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 3,293 shares of the manufacturing equipment provider’s stock worth $300,000 after purchasing an additional 100 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Applied Materials by 1.6% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 6,335 shares of the manufacturing equipment provider’s stock worth $835,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Applied Materials Company Profile

(Get Rating)

Applied Materials, Inc engages in the provision of 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.

Further Reading

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.