Mizuho Cuts Applied Materials (NASDAQ:AMAT) Price Target to $195.00

Applied Materials (NASDAQ:AMAT) had its price objective decreased by Mizuho from $205.00 to $195.00 in a research note issued to investors on Friday,Benzinga reports. Mizuho currently has an outperform rating on the manufacturing equipment provider’s stock.

A number of other brokerages also recently weighed in on AMAT. Cantor Fitzgerald reduced their price target on shares of Applied Materials from $220.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, May 12th. TD Cowen reduced their price target on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus reduced their price target on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Susquehanna raised their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.48.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $165.57 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. Applied Materials has a 1 year low of $123.74 and a 1 year high of $255.89. The firm’s fifty day simple moving average is $149.19 and its 200 day simple moving average is $165.24. The firm has a market capitalization of $134.52 billion, a PE ratio of 21.64, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the firm earned $2.09 EPS. The business’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 22.38%.

Insider Activity at Applied Materials

In related news, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Applied Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMAT. Crews Bank & Trust acquired a new stake in Applied Materials in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. acquired a new stake in Applied Materials in the 4th quarter valued at about $28,000. Runnymede Capital Advisors Inc. increased its position in Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials in the 1st quarter valued at about $29,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Applied Materials by 435.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. 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.