Research Analysts Issue Forecasts for Applied Materials, Inc.’s Q3 2022 Earnings (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMATGet Rating) – Research analysts at DA Davidson issued their Q3 2022 earnings per share estimates for Applied Materials in a report released on Friday, May 20th. DA Davidson analyst T. Diffely expects that the manufacturing equipment provider will post earnings of $1.78 per share for the quarter. DA Davidson has a “Buy” rating and a $170.00 price target on the stock.

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

A number of other research firms have also commented on AMAT. Cowen cut their price target on Applied Materials from $190.00 to $160.00 in a report on Friday. Susquehanna Bancshares cut their price target on Applied Materials to $115.00 in a report on Friday. Needham & Company LLC cut their price target on Applied Materials from $172.00 to $130.00 and set a “buy” rating for the company in a report on Friday. Mizuho dropped their price objective on Applied Materials from $180.00 to $160.00 and set a “buy” rating for the company in a research note on Friday. Finally, KeyCorp started coverage on Applied Materials in a research note on Tuesday, January 25th. They issued a “sector weight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $156.62.

Applied Materials stock opened at $106.46 on Monday. Applied Materials has a one year low of $101.33 and a one year high of $167.06. The business has a fifty day moving average price of $119.87 and a 200-day moving average price of $136.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.51 and a quick ratio of 1.78. The firm has a market capitalization of $94.05 billion, a P/E ratio of 14.19, a PEG ratio of 1.37 and a beta of 1.44.

The company 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 $0.26 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, May 25th. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. Applied Materials’s dividend payout ratio (DPR) is currently 12.80%.

Applied Materials announced that its board has authorized a stock repurchase plan on Friday, March 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in shares of Applied Materials by 7.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,847 shares of the manufacturing equipment provider’s stock worth $1,864,000 after purchasing an additional 786 shares during the last quarter. MUFG Securities EMEA plc boosted its holdings in Applied Materials by 210.6% in the third quarter. MUFG Securities EMEA plc now owns 19,121 shares of the manufacturing equipment provider’s stock valued at $2,461,000 after acquiring an additional 12,965 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in Applied Materials by 2.1% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 229,250 shares of the manufacturing equipment provider’s stock valued at $36,075,000 after acquiring an additional 4,679 shares in the last quarter. LVM Capital Management Ltd. MI boosted its holdings in Applied Materials by 6.3% in the fourth quarter. LVM Capital Management Ltd. MI now owns 70,910 shares of the manufacturing equipment provider’s stock valued at $11,158,000 after acquiring an additional 4,220 shares in the last quarter. Finally, Symphony Financial Ltd. Co. boosted its holdings in Applied Materials by 182.2% in the fourth quarter. Symphony Financial Ltd. Co. now owns 9,912 shares of the manufacturing equipment provider’s stock valued at $1,585,000 after acquiring an additional 6,400 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

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