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

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

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. UBS Group lowered shares of Applied Materials from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $60.00) on shares of Applied Materials in a research report on Tuesday, October 23rd. B. Riley lowered shares of Applied Materials from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $36.00 in a research report on Monday, October 29th. Finally, BidaskClub raised shares of Applied Materials from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.96.

Applied Materials stock traded up $0.12 during mid-day trading on Monday, hitting $39.90. 9,772,465 shares of the company’s stock traded hands, compared to its average volume of 11,484,603. Applied Materials has a fifty-two week low of $28.79 and a fifty-two week high of $62.40. The company has a market capitalization 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 current ratio of 2.64 and a quick ratio of 1.73.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.97. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4 billion. As a group, equities analysts anticipate that Applied Materials will post 3.37 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of AMAT. Advisors Asset Management Inc. boosted its holdings in Applied Materials by 26.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 70,111 shares of the manufacturing equipment provider’s stock valued at $3,238,000 after purchasing an additional 14,745 shares during the period. Bank of New York Mellon Corp boosted its holdings in Applied Materials by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,704 shares of the manufacturing equipment provider’s stock valued at $637,639,000 after purchasing an additional 435,308 shares during the period. Fox Run Management L.L.C. bought a new stake in Applied Materials in the 3rd quarter valued at $214,000. Polianta Ltd bought a new stake in Applied Materials in the 3rd quarter valued at $1,035,000. Finally, Callahan Advisors LLC bought a new position in shares of Applied Materials during the 3rd quarter worth about $1,381,000. 79.35% of the stock is 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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