Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) – Equities researchers at KeyCorp decreased their FY2022 earnings estimates for Applied Materials in a report released on Thursday, May 19th. KeyCorp analyst S. Barger now expects that the manufacturing equipment provider will earn $7.44 per share for the year, down from their prior forecast of $8.05. KeyCorp currently has a “Sector Weight” rating on the stock.
A number of other brokerages have also commented on AMAT. Piper Sandler lowered their price objective on Applied Materials from $153.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday. Susquehanna reaffirmed a “hold” rating and issued a $160.00 target price on shares of Applied Materials in a report on Monday, February 14th. Susquehanna Bancshares lowered their target price on Applied Materials to $115.00 in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $145.00 to $135.00 in a report on Friday. Finally, StockNews.com assumed coverage on Applied Materials in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Applied Materials has a consensus rating of “Buy” and a consensus target price of $156.62.
Applied Materials (NASDAQ:AMAT – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The manufacturing equipment provider reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). The company 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 EPS.
A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Applied Materials by 0.5% in the first quarter. State Street Corp now owns 40,177,420 shares of the manufacturing equipment provider’s stock worth $5,295,384,000 after purchasing an additional 192,537 shares in the last quarter. Capital World Investors boosted its stake in Applied Materials by 21.5% in the first quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after purchasing an additional 5,980,777 shares in the last quarter. Capital International Investors boosted its stake in Applied Materials by 6.9% in the first quarter. Capital International Investors now owns 24,875,796 shares of the manufacturing equipment provider’s stock worth $3,278,728,000 after purchasing an additional 1,607,427 shares in the last quarter. Geode Capital Management LLC boosted its stake in Applied Materials by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 17,016,315 shares of the manufacturing equipment provider’s stock worth $2,671,813,000 after purchasing an additional 62,513 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Applied Materials by 14.5% in the fourth quarter. Deutsche Bank AG now owns 7,933,311 shares of the manufacturing equipment provider’s stock worth $1,248,387,000 after purchasing an additional 1,003,013 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 26th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, May 25th. This is an increase from Applied Materials’s previous quarterly dividend of $0.24. Applied Materials’s dividend payout ratio (DPR) is 12.80%.
Applied Materials declared that its board has approved a share repurchase program on Friday, March 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
About Applied Materials (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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