Applied Materials (NASDAQ:AMAT) had its price objective boosted by Morgan Stanley from $40.00 to $43.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the manufacturing equipment provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 4.66% from the company’s previous close.

A number of other analysts have also recently commented on the company. Goldman Sachs Group cut Applied Materials from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. ValuEngine cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank boosted their price objective on Applied Materials from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Friday. Bank of America restated a “neutral” rating and issued a $52.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Friday, May 17th. Finally, B. Riley upgraded Applied Materials from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Friday, May 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.90.

Shares of Applied Materials stock traded down $2.06 on Friday, reaching $45.10. The company’s stock had a trading volume of 451,262 shares, compared to its average volume of 9,044,130. The company has a market capitalization of $44.99 billion, a P/E ratio of 10.15, a PEG ratio of 2.43 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 stock has a 50-day moving average price of $47.06 and a 200-day moving average price of $42.49. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business’s revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Sell-side analysts forecast that Applied Materials will post 2.96 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMAT. Greenleaf Trust lifted its stake in shares of Applied Materials by 8.5% in the 2nd quarter. Greenleaf Trust now owns 15,309 shares of the manufacturing equipment provider’s stock valued at $688,000 after purchasing an additional 1,201 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in shares of Applied Materials by 0.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after purchasing an additional 248 shares during the last quarter. Chemical Bank lifted its stake in shares of Applied Materials by 3.5% in the 1st quarter. Chemical Bank now owns 26,575 shares of the manufacturing equipment provider’s stock valued at $1,054,000 after purchasing an additional 900 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Applied Materials in the 1st quarter valued at $287,000. Finally, Motley Fool Asset Management LLC lifted its stake in shares of Applied Materials by 11.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 14,301 shares of the manufacturing equipment provider’s stock valued at $567,000 after purchasing an additional 1,521 shares during the last quarter. 77.61% of the stock is currently owned by 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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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