Applied Materials (NASDAQ:AMAT) Given New $250.00 Price Target at Evercore ISI

Applied Materials (NASDAQ:AMAT) had its price target cut by Evercore ISI from $260.00 to $250.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the manufacturing equipment provider’s stock.

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Citigroup lowered their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday. Finally, UBS Group decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Stock Down 9.2 %

Shares of NASDAQ:AMAT traded down $17.12 during midday trading on Friday, hitting $168.88. 16,287,484 shares of the company’s stock traded hands, compared to its average volume of 6,137,177. The firm’s fifty day moving average price is $190.88 and its two-hundred day moving average price is $206.73. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials has a twelve month low of $141.94 and a twelve month high of $255.89. The company has a market cap of $139.22 billion, a PE ratio of 18.98, a P/E/G ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. On average, equities research analysts anticipate that Applied Materials will post 8.51 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Applied Materials’s payout ratio is currently 17.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMAT. Summit Securities Group LLC acquired a new position in Applied Materials during the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Applied Materials during the second quarter valued at about $28,000. PSI Advisors LLC lifted its holdings in Applied Materials by 56.0% in 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 period. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter valued at about $33,000. Finally, First PREMIER Bank increased its stake in Applied Materials by 326.3% during the 3rd 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 period. 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.