Applied Materials (NASDAQ:AMAT) Price Target Lowered to $195.00 at Needham & Company LLC

Applied Materials (NASDAQ:AMAT - Free Report) had its price objective trimmed by Needham & Company LLC from $200.00 to $195.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the manufacturing equipment provider's stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company decreased their target price on Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Bank of America decreased their target price on Applied Materials from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Mizuho cut their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group cut their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Sanford C. Bernstein cut their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Applied Materials presently has an average rating of "Moderate Buy" and a consensus price target of $215.38.

Applied Materials Trading Up 1.7 %

AMAT traded up $2.80 during midday trading on Friday, reaching $172.00. 10,416,647 shares of the company's stock traded hands, compared to its average volume of 6,723,199. Applied Materials has a 52 week low of $158.96 and a 52 week high of $255.89. The stock has a market capitalization of $139.78 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.86 and a beta of 1.53. The firm has a fifty day moving average of $175.31 and a two-hundred day moving average of $184.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. On average, equities analysts anticipate that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. Applied Materials's dividend payout ratio (DPR) is currently 18.58%.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials in the 4th quarter worth $28,000. Crews Bank & Trust purchased a new position in shares of Applied Materials in the 4th quarter worth $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials in the 3rd quarter worth $37,000. DT Investment Partners LLC boosted its stake in shares of 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 during the last quarter. Finally, YANKCOM Partnership purchased a new position in shares of Applied Materials in the 4th quarter worth $32,000. 80.56% of the stock is currently 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.