Applied Materials (NASDAQ:AMAT) PT Set at $40.00 by Nomura

Applied Materials (NASDAQ:AMAT) received a $40.00 price target from equities research analysts at Nomura in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the manufacturing equipment provider’s stock. Nomura’s price target suggests a potential downside of 15.04% from the company’s current price.

A number of other research firms have also recently commented on AMAT. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, June 4th. B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a report on Friday, May 17th. BidaskClub lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley lifted their price objective on shares of Applied Materials from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday. Finally, ValuEngine lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $51.00.

Shares of AMAT stock traded up $0.45 on Friday, hitting $47.08. 741,939 shares of the stock traded hands, compared to its average volume of 8,800,960. The firm has a market cap of $44.15 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 2.39 and a beta of 1.68. Applied Materials has a 52 week low of $28.79 and a 52 week high of $52.42. The firm has a 50 day simple moving average of $47.10 and a two-hundred day simple moving average of $42.51. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.83%. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. Sell-side analysts forecast that Applied Materials will post 2.96 EPS for the current year.

Several large investors have recently bought and sold shares of AMAT. Dimensional Fund Advisors LP raised its holdings in shares of Applied Materials by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,539,478 shares of the manufacturing equipment provider’s stock worth $115,882,000 after purchasing an additional 211,654 shares during the period. Geode Capital Management LLC grew its position in shares of Applied Materials by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after purchasing an additional 794,347 shares in the last quarter. Pennsylvania Trust Co grew its position in shares of Applied Materials by 11.4% during the 1st quarter. Pennsylvania Trust Co now owns 8,532 shares of the manufacturing equipment provider’s stock valued at $455,000 after purchasing an additional 871 shares in the last quarter. Wedbush Securities Inc. grew its position in shares of Applied Materials by 20.8% during the 1st quarter. Wedbush Securities Inc. now owns 13,761 shares of the manufacturing equipment provider’s stock valued at $546,000 after purchasing an additional 2,366 shares in the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of Applied Materials during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Applied Materials

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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