Applied Materials (NASDAQ:AMAT – Get Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $210.00 to $200.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the manufacturing equipment provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 15.17% from the company’s current price.
A number of other equities analysts also recently issued reports on AMAT. Needham & Company LLC cut their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. The Goldman Sachs Group decreased their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Susquehanna lowered their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, Stifel Nicolaus lowered their target price on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.24.
Check Out Our Latest Report on Applied Materials
Applied Materials Price Performance
Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Materials will post 9.48 earnings per share for the current year.
Hedge Funds Weigh In On Applied Materials
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in Applied Materials by 1.8% during the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock worth $7,841,178,000 after acquiring an additional 672,548 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after purchasing an additional 371,866 shares during the period. FMR LLC boosted its position in Applied Materials by 5.5% in the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after buying an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after buying an additional 318,445 shares during the period. Finally, Van ECK Associates Corp raised its position in Applied Materials by 29.8% during the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.
About Applied Materials
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.
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