Susquehanna Issues Positive Forecast for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price objective raised by stock analysts at Susquehanna from $155.00 to $165.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the manufacturing equipment provider’s stock. Susquehanna’s price objective would suggest a potential downside of 17.03% from the company’s current price.

AMAT has been the topic of several other research reports. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research note on Friday, January 17th. Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. The Goldman Sachs Group dropped their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Stock Up 3.1 %

Shares of AMAT stock traded up $6.00 during trading hours on Wednesday, hitting $198.87. 466,940 shares of the company were exchanged, compared to its average volume of 6,064,039. The stock has a market capitalization of $161.82 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.96 and a beta of 1.53. Applied Materials has a one year low of $158.96 and a one year high of $255.89. The business’s 50-day simple moving average is $173.29 and its two-hundred day simple moving average is $189.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. Sell-side analysts predict that Applied Materials will post 9.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in Applied Materials in the 3rd quarter worth approximately $33,000. First PREMIER Bank lifted its position in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter worth approximately $37,000. DT Investment Partners LLC lifted its position in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, City Holding Co. purchased a new stake in Applied Materials in the 4th quarter worth approximately $39,000. 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.