Applied Materials, Inc. (NASDAQ:AMAT – Free Report) – Analysts at Zacks Research raised their FY2023 EPS estimates for shares of Applied Materials in a research report issued to clients and investors on Thursday, August 31st. Zacks Research analyst S. Mete now forecasts that the manufacturing equipment provider will post earnings of $7.76 per share for the year, up from their prior estimate of $7.09. The consensus estimate for Applied Materials’ current full-year earnings is $7.79 per share. Zacks Research also issued estimates for Applied Materials’ Q4 2023 earnings at $1.83 EPS, Q2 2024 earnings at $1.76 EPS, Q4 2024 earnings at $2.04 EPS, FY2024 earnings at $7.27 EPS, Q1 2025 earnings at $1.89 EPS and FY2025 earnings at $8.25 EPS.
AMAT has been the subject of several other reports. Craig Hallum upped their target price on shares of Applied Materials from $139.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Citigroup upped their price target on shares of Applied Materials from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Evercore ISI upped their price target on shares of Applied Materials from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, May 19th. Berenberg Bank upped their price target on shares of Applied Materials from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Finally, Needham & Company LLC lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.08.
Applied Materials Trading Up 0.8 %
Applied Materials stock opened at $153.99 on Monday. The stock has a market cap of $129.28 billion, a P/E ratio of 20.32, a PEG ratio of 3.06 and a beta of 1.60. Applied Materials has a fifty-two week low of $71.12 and a fifty-two week high of $154.54. The firm’s fifty day moving average price is $144.19 and its 200-day moving average price is $129.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.59 and a current ratio of 2.30.
Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.16. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Applied Materials had a net margin of 24.27% and a return on equity of 49.29%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of AMAT. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Applied Materials by 98,769.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 811,480,246 shares of the manufacturing equipment provider’s stock valued at $117,291,355,000 after purchasing an additional 810,659,490 shares during the period. Norges Bank bought a new stake in shares of Applied Materials during the 4th quarter valued at $930,505,000. Cowa LLC bought a new stake in shares of Applied Materials during the 1st quarter valued at $76,000. Moneta Group Investment Advisors LLC raised its position in shares of Applied Materials by 79,147.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,726,422 shares of the manufacturing equipment provider’s stock valued at $557,639,000 after purchasing an additional 5,719,196 shares during the period. Finally, Providence Capital Advisors LLC bought a new stake in shares of Applied Materials during the 1st quarter valued at $38,700,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.
In related news, VP Timothy M. Deane sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $137.30, for a total value of $1,029,750.00. Following the sale, the vice president now owns 100,759 shares in the company, valued at $13,834,210.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Timothy M. Deane sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $137.30, for a total value of $1,029,750.00. Following the sale, the vice president now owns 100,759 shares in the company, valued at $13,834,210.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice Hill sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total transaction of $150,040.00. Following the completion of the sale, the chief financial officer now owns 106,023 shares in the company, valued at approximately $15,907,690.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,500 shares of company stock worth $2,599,790 over the last 90 days. 0.25% of the stock is currently owned by insiders.
Applied Materials Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Wednesday, August 23rd. Applied Materials’s payout ratio is 16.89%.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of 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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