Applied Materials (NASDAQ:AMAT) Given New $200.00 Price Target at Cantor Fitzgerald

Applied Materials (NASDAQ:AMAT) had its price objective lowered by Cantor Fitzgerald from $220.00 to $200.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the manufacturing equipment provider’s stock.

Several other research firms have also recently commented on AMAT. DZ Bank restated a “sell” rating and issued a $150.00 target price on shares of Applied Materials in a research note on Friday. Bank of America restated a “neutral” rating and issued a $180.00 target price (down previously from $190.00) on shares of Applied Materials in a research note on Friday. Barclays raised their target price on shares of Applied Materials from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, July 28th. Mizuho cut their price objective on Applied Materials from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.84.

Applied Materials Price Performance

Applied Materials stock opened at $161.76 on Friday. Applied Materials has a 12 month low of $123.74 and a 12 month high of $215.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The business has a 50 day simple moving average of $184.18 and a 200-day simple moving average of $166.71. The stock has a market capitalization of $129.81 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.12. Applied Materials had a net margin of 23.88% and a return on equity of 41.31%. The company had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the company posted $2.12 EPS. Applied Materials’s revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Applied Materials will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 21.93%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Hedge funds have recently bought and sold shares of the business. Maseco LLP acquired a new stake in Applied Materials during the 2nd quarter valued at approximately $30,000. Financial Gravity Companies Inc. acquired a new stake in Applied Materials during the 2nd quarter valued at approximately $31,000. Howard Hughes Medical Institute acquired a new stake in Applied Materials during the 2nd quarter valued at approximately $32,000. Runnymede Capital Advisors Inc. grew its stake in Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Finally, Kilter Group LLC acquired a new stake in Applied Materials during the 2nd quarter valued at approximately $36,000. 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.