Applied Materials, Inc. (NASDAQ:AMAT) – Equities research analysts at KeyCorp upped their Q2 2020 earnings per share (EPS) estimates for shares of Applied Materials in a report issued on Wednesday, February 12th. KeyCorp analyst W. Twigg now forecasts that the manufacturing equipment provider will earn $1.04 per share for the quarter, up from their prior forecast of $0.97. KeyCorp has a “Overweight” rating and a $86.00 price objective on the stock. KeyCorp also issued estimates for Applied Materials’ Q3 2020 earnings at $1.09 EPS, Q1 2021 earnings at $1.13 EPS, Q2 2021 earnings at $1.22 EPS, Q3 2021 earnings at $1.23 EPS and Q4 2021 earnings at $1.17 EPS.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS.
AMAT has been the topic of several other research reports. Cowen lifted their price target on shares of Applied Materials from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC lifted their price target on shares of Applied Materials from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Applied Materials in a research note on Thursday. Finally, BidaskClub upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.04.
Shares of Applied Materials stock opened at $66.85 on Friday. The company’s fifty day simple moving average is $61.78 and its 200-day simple moving average is $55.12. The stock has a market capitalization of $57.80 billion, a PE ratio of 23.37, a P/E/G ratio of 2.01 and a beta of 1.64. Applied Materials has a 1-year low of $36.80 and a 1-year high of $69.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.30 and a quick ratio of 1.51.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caxton Associates LP bought a new stake in shares of Applied Materials in the 4th quarter worth about $935,000. Point72 Asset Management L.P. increased its holdings in shares of Applied Materials by 96.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,431,075 shares of the manufacturing equipment provider’s stock worth $148,393,000 after buying an additional 1,195,482 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Applied Materials by 337.6% in the 4th quarter. Captrust Financial Advisors now owns 28,407 shares of the manufacturing equipment provider’s stock worth $1,767,000 after buying an additional 21,916 shares during the last quarter. Bluefin Trading LLC bought a new stake in shares of Applied Materials in the 4th quarter worth about $2,171,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Applied Materials by 61.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 175,372 shares of the manufacturing equipment provider’s stock worth $10,705,000 after buying an additional 66,727 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.
In other Applied Materials news, SVP Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction on Monday, December 16th. The shares were sold at an average price of $60.73, for a total value of $3,036,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary E. Dickerson sold 1,000,000 shares of Applied Materials stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total transaction of $61,110,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,053,000 shares of company stock worth $64,335,080. 0.41% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 19th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.84 dividend on an annualized basis and a yield of 1.26%. Applied Materials’s dividend payout ratio is currently 27.63%.
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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