Applied Materials (NASDAQ:AMAT) Price Target Cut to $210.00 by Analysts at Sanford C. Bernstein

Applied Materials (NASDAQ:AMAT) had its target price reduced by analysts at Sanford C. Bernstein from $220.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the manufacturing equipment provider’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 22.58% from the stock’s current price.

AMAT has been the topic of several other reports. Wells Fargo & Company cut their price objective on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Morgan Stanley cut their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Citigroup cut their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, TD Cowen cut their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.48.

Applied Materials Stock Down 1.1 %

NASDAQ:AMAT opened at $171.32 on Friday. The firm’s 50-day moving average price is $188.46 and its 200-day moving average price is $204.76. The company has a market capitalization of $141.24 billion, a PE ratio of 19.90, a P/E/G ratio of 1.61 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials has a 1-year low of $144.57 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. On average, equities analysts predict that Applied Materials will post 9.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the 2nd quarter worth approximately $28,000. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank grew its holdings 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 in the last quarter. Finally, PSI Advisors LLC grew its holdings in Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. 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.