TD Cowen Cuts Applied Materials (NASDAQ:AMAT) Price Target to $230.00

Applied Materials (NASDAQ:AMAT) had its target price lowered by TD Cowen from $250.00 to $230.00 in a report published on Friday morning, Marketbeat reports. TD Cowen currently has a buy rating on the manufacturing equipment provider’s stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna reduced their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Needham & Company LLC cut their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. UBS Group cut their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.81.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $170.73 on Friday. Applied Materials has a 1-year low of $144.57 and a 1-year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock has a fifty day moving average price of $190.75 and a 200 day moving average price of $206.68. The company has a market cap of $140.75 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating 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 the consensus estimate of $6.96 billion. During the same quarter last year, the company earned $2.12 earnings per share. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Applied Materials will post 9.52 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend 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%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of Applied Materials during the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the 2nd quarter valued at about $28,000. Clean Yield Group acquired a new position in shares of Applied Materials during the 3rd quarter valued at about $33,000. First PREMIER Bank increased its stake in shares of 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 acquiring an additional 124 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Applied Materials during the 1st quarter valued at about $35,000. 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.