Deutsche Bank Aktiengesellschaft Cuts Applied Materials (NASDAQ:AMAT) Price Target to $170.00

Key Points

• Deutsche Bank Aktiengesellschaft has lowered its price target for Applied Materials from $200.00 to $170.00, maintaining a "hold" rating on the stock.
• Despite the price target cut, analysts project a potential upside of 4.76% from Applied Materials' current price.
• Applied Materials' stock has experienced significant volatility, with a 52-week low of $123.74 and a high of $215.70, and it recently traded down to $162.27.

Applied Materials (NASDAQ:AMAT - Get Free Report) had its price target cut by Deutsche Bank Aktiengesellschaft from $200.00 to $170.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the manufacturing equipment provider's stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 4.76% from the company's current price.

Several other research analysts have also recently weighed in on the stock. Rothschild & Co Redburn cut shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a report on Monday, July 7th. Cantor Fitzgerald cut their price objective on shares of Applied Materials from $220.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Applied Materials in a research report on Thursday, July 10th. They issued a "buy" rating and a $225.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Applied Materials from $169.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Bank of America reissued a "neutral" rating and issued a $180.00 price objective (down previously from $190.00) on shares of Applied Materials in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $194.84.

Applied Materials Price Performance

Shares of NASDAQ AMAT traded down $25.97 during trading on Friday, reaching $162.27. The company had a trading volume of 24,363,138 shares, compared to its average volume of 7,347,198. Applied Materials has a 52 week low of $123.74 and a 52 week high of $215.70. The stock has a market cap of $130.22 billion, a PE ratio of 19.74, a PEG ratio of 2.12 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The business's 50 day moving average price is $184.28 and its 200-day moving average price is $166.78.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.12. The business had revenue of $7.30 billion during the quarter, compared to the consensus estimate of $7.21 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. Applied Materials's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 earnings per share. Analysts expect that Applied Materials will post 9.38 earnings per share for the current year.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the sale, the chief accounting officer directly owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Maseco LLP acquired a new stake in shares of Applied Materials during the 2nd quarter worth approximately $30,000. Financial Gravity Companies Inc. bought a new stake in Applied Materials during the 2nd quarter valued at $31,000. Howard Hughes Medical Institute bought a new stake in Applied Materials during the 2nd quarter valued at $32,000. Runnymede Capital Advisors Inc. increased its stake in Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Finally, Kilter Group LLC bought a new stake in Applied Materials during the 2nd quarter valued at $36,000. Institutional investors own 80.56% of the company's stock.

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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