Applied Materials (NASDAQ:AMAT) PT Lowered to $54.00 at KeyCorp

Applied Materials (NASDAQ:AMAT) had its price objective reduced by KeyCorp from $56.00 to $54.00 in a research note issued to investors on Friday morning, AnalystRatings.com reports. They currently have an overweight rating on the manufacturing equipment provider’s stock. KeyCorp also issued estimates for Applied Materials’ Q4 2019 earnings at $0.76 EPS, FY2019 earnings at $3.00 EPS, Q1 2020 earnings at $0.76 EPS, Q2 2020 earnings at $0.85 EPS, Q3 2020 earnings at $0.89 EPS, Q4 2020 earnings at $0.86 EPS and FY2020 earnings at $3.35 EPS.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a buy rating and issued a $52.00 price objective on shares of Applied Materials in a research report on Sunday, May 19th. Bank of America reiterated 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. ValuEngine lowered shares of Applied Materials from a buy rating to a hold rating in a research report on Tuesday, August 6th. Citigroup lifted their price objective on shares of Applied Materials from $51.00 to $52.00 and gave the company a buy rating in a research report on Friday, May 17th. Finally, UBS Group lifted their price objective on shares of Applied Materials from $45.00 to $49.00 and gave the company a neutral rating in a research report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $51.00.

Shares of Applied Materials stock opened at $47.10 on Friday. The firm’s fifty day simple moving average is $47.22 and its 200-day simple moving average is $42.58. Applied Materials has a 12 month low of $28.79 and a 12 month high of $52.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. The stock has a market capitalization 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 (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.83%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm posted $1.20 EPS. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. Analysts anticipate that Applied Materials will post 2.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Applied Materials’s payout ratio is currently 18.88%.

Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Squar Milner Financial Services LLC boosted its position in shares of Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after purchasing an additional 458 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Applied Materials in the 1st quarter worth about $27,000. Horan Capital Advisors LLC. purchased a new stake in shares of Applied Materials in the 1st quarter worth about $31,000. Cable Hill Partners LLC boosted its position in shares of Applied Materials by 378.4% in the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after buying an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of Applied Materials in the 1st quarter worth about $33,000. Institutional investors own 75.70% of the company’s stock.

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.

Featured Article: Buy-Side Analysts

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.