Applied Materials, Inc. (NASDAQ:AMAT) to Post FY2022 Earnings of $7.44 Per Share, KeyCorp Forecasts

Applied Materials, Inc. (NASDAQ:AMATGet Rating) – KeyCorp cut their FY2022 EPS estimates for shares of Applied Materials in a research report issued on Thursday, May 19th. KeyCorp analyst S. Barger now forecasts that the manufacturing equipment provider will post earnings per share of $7.44 for the year, down from their previous estimate of $8.05. KeyCorp currently has a “Sector Weight” rating on the stock.

Several other equities research analysts have also issued reports on the company. Mizuho dropped their price target on Applied Materials from $180.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on Applied Materials from $174.00 to $158.00 in a research note on Friday. Morgan Stanley lowered their price objective on Applied Materials from $160.00 to $133.00 and set an “equal weight” rating for the company in a research note on Friday. DA Davidson lowered their price objective on Applied Materials from $185.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Finally, Needham & Company LLC lowered their price objective on Applied Materials from $172.00 to $130.00 and set a “buy” rating for the company in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $156.62.

AMAT stock opened at $106.46 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The firm has a market cap of $94.05 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.37 and a beta of 1.44. Applied Materials has a 12-month low of $101.33 and a 12-month high of $167.06. The stock’s 50 day simple moving average is $119.87 and its 200 day simple moving average is $136.15.

Applied Materials (NASDAQ:AMATGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.05). The firm had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.35 billion. Applied Materials had a net margin of 27.20% and a return on equity of 56.59%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share.

A number of institutional investors have recently made changes to their positions in AMAT. Center for Financial Planning Inc. purchased a new stake in Applied Materials in the 1st quarter worth about $25,000. Monolith Advisors purchased a new stake in Applied Materials in the 4th quarter worth about $25,000. MV Capital Management Inc. lifted its stake in Applied Materials by 76.1% in the 3rd quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock worth $30,000 after acquiring an additional 102 shares in the last quarter. Fortis Advisors LLC purchased a new stake in Applied Materials in the 3rd quarter worth about $32,000. Finally, Disciplined Investments LLC lifted its stake in Applied Materials by 67.3% in the 1st quarter. Disciplined Investments LLC now owns 251 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 101 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 26th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. This is an increase from Applied Materials’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, May 25th. Applied Materials’s dividend payout ratio is currently 12.80%.

Applied Materials announced that its Board of Directors has initiated a stock repurchase program on Friday, March 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Applied Materials Company Profile (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

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