Wells Fargo & Company Has Lowered Expectations for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price target trimmed by Wells Fargo & Company from $235.00 to $220.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the manufacturing equipment provider’s stock.

A number of other research firms have also recently issued reports on AMAT. Deutsche Bank Aktiengesellschaft lowered their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday. Susquehanna lowered their price objective on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Morgan Stanley lowered their price objective on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Needham & Company LLC lowered their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Stock Up 1.1 %

Shares of AMAT stock opened at $170.73 on Friday. Applied Materials has a 12 month low of $144.57 and a 12 month high of $255.89. The firm has a market cap of $140.75 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 1.56. The stock has a 50 day moving average of $190.75 and a 200-day moving average of $206.68. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.71% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts predict that Applied Materials will post 9.52 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.58%.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials in the second quarter worth $28,000. PSI Advisors LLC lifted its stake 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 valued at $37,000 after acquiring an additional 56 shares during the period. Clean Yield Group acquired a new position in shares of Applied Materials during the third quarter valued at $33,000. Finally, First PREMIER Bank lifted its stake in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds 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.