Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $220.00 to $200.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the manufacturing equipment provider’s stock.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Applied Materials in a research report on Friday, August 16th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Morgan Stanley lowered their price target on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $219.81.

Applied Materials Stock Down 9.2 %

Shares of AMAT stock traded down $17.12 on Friday, hitting $168.88. The stock had a trading volume of 16,287,484 shares, compared to its average volume of 6,137,177. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials has a one year low of $141.94 and a one year high of $255.89. The business has a 50 day moving average price of $190.88 and a 200 day moving average price of $206.73. The company has a market cap of $139.22 billion, a PE ratio of 18.98, a P/E/G ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. Research analysts anticipate that Applied Materials will post 8.51 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 17.98%.

Institutional Trading of Applied Materials

A number of hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the second quarter worth $28,000. Clean Yield Group acquired a new stake in Applied Materials during the third quarter valued at $33,000. First PREMIER Bank increased its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Applied Materials in the first quarter worth about $35,000. Hedge funds and other institutional investors 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.