Applied Materials (NASDAQ:AMAT) Releases Earnings Results, Beats Expectations By $0.30 EPS

Applied Materials (NASDAQ:AMATGet Rating) released its quarterly earnings data on Thursday. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.30, RTT News reports. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Applied Materials had a net margin of 26.42% and a return on equity of 56.68%. Applied Materials’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $1.94 earnings per share. Applied Materials updated its Q1 guidance to $1.75-2.11 EPS.

Applied Materials Stock Performance

Shares of AMAT stock traded up $0.23 during trading hours on Thursday, hitting $104.45. The stock had a trading volume of 10,266,036 shares, compared to its average volume of 8,217,916. The stock’s 50 day moving average is $88.49 and its 200 day moving average is $97.51. The firm has a market capitalization of $89.86 billion, a PE ratio of 13.96, a PEG ratio of 3.34 and a beta of 1.49. Applied Materials has a twelve month low of $71.12 and a twelve month high of $167.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.45.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, November 23rd. Applied Materials’s dividend payout ratio (DPR) is 13.90%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors increased its position in Applied Materials by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 59,326 shares of the manufacturing equipment provider’s stock valued at $4,861,000 after acquiring an additional 2,959 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Applied Materials by 1.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 50,766 shares of the manufacturing equipment provider’s stock valued at $4,159,000 after purchasing an additional 951 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Applied Materials by 8.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,763 shares of the manufacturing equipment provider’s stock valued at $979,000 after purchasing an additional 850 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Applied Materials by 76.0% in the second quarter. Macquarie Group Ltd. now owns 356,112 shares of the manufacturing equipment provider’s stock valued at $32,399,000 after purchasing an additional 153,771 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of Applied Materials by 13.7% during the first quarter. EP Wealth Advisors LLC now owns 5,261 shares of the manufacturing equipment provider’s stock worth $693,000 after purchasing an additional 632 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Applied Materials from $125.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. Bank of America reduced their price target on shares of Applied Materials from $125.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, October 7th. JPMorgan Chase & Co. dropped their target price on shares of Applied Materials from $158.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Sanford C. Bernstein upped their price target on Applied Materials to $140.00 in a research note on Monday, August 22nd. Finally, Stifel Nicolaus cut their price objective on Applied Materials from $197.00 to $184.00 in a report on Friday, August 19th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Applied Materials Company Profile

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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 for Applied Materials (NASDAQ:AMAT)

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