Equities research analysts expect that Applied Materials, Inc. (NASDAQ:AMAT) will post $3.53 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Applied Materials’ earnings, with the lowest sales estimate coming in at $3.52 billion and the highest estimate coming in at $3.53 billion. Applied Materials reported sales of $4.47 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 21%. The business is scheduled to announce its next earnings report on Thursday, August 15th.
On average, analysts expect that Applied Materials will report full-year sales of $14.47 billion for the current financial year, with estimates ranging from $14.25 billion to $14.56 billion. For the next financial year, analysts anticipate that the company will post sales of $15.70 billion, with estimates ranging from $15.44 billion to $16.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Applied Materials.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS.
A number of equities analysts have recently commented on AMAT shares. Bank of America set a $120.00 price objective on shares of Walmart and gave the stock a “buy” rating in a report on Friday, May 17th. DA Davidson downgraded shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and cut their price target for the company from $60.00 to $55.00 in a report on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Applied Materials in a report on Sunday, May 19th. Wells Fargo & Co reissued an “outperform” rating on shares of Applied Materials in a report on Thursday, June 20th. Finally, Cowen lifted their price target on shares of Applied Materials from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.25.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cascade Investment Advisors Inc. lifted its position in shares of Applied Materials by 1.8% in the second quarter. Cascade Investment Advisors Inc. now owns 25,120 shares of the manufacturing equipment provider’s stock worth $1,128,000 after purchasing an additional 450 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Applied Materials by 4.4% in the second quarter. Koshinski Asset Management Inc. now owns 24,443 shares of the manufacturing equipment provider’s stock valued at $1,098,000 after purchasing an additional 1,032 shares during the last quarter. Mengis Capital Management Inc. acquired a new position in shares of Applied Materials in the second quarter valued at $222,000. Gilman Hill Asset Management LLC increased its holdings in shares of Applied Materials by 14.1% in the second quarter. Gilman Hill Asset Management LLC now owns 27,483 shares of the manufacturing equipment provider’s stock valued at $1,234,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of Applied Materials by 22.2% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 56,836 shares of the manufacturing equipment provider’s stock valued at $2,544,000 after purchasing an additional 10,307 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:AMAT traded up $1.95 during midday trading on Friday, reaching $48.17. 14,320,302 shares of the company’s stock were exchanged, compared to its average volume of 10,220,137. The business has a 50 day moving average price of $43.09. The stock has a market cap of $44.18 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 2.32 and a beta of 1.69. Applied Materials has a 12 month low of $28.79 and a 12 month high of $50.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s payout ratio is currently 18.88%.
Applied Materials Company Profile
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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