Applied Materials, Inc. (NASDAQ:AMAT) – Investment analysts at B. Riley lifted their FY2018 earnings per share (EPS) estimates for shares of Applied Materials in a research report issued to clients and investors on Thursday. B. Riley analyst C. Ellis now expects that the manufacturing equipment provider will post earnings per share of $4.61 for the year, up from their previous estimate of $4.11. B. Riley currently has a “Buy” rating and a $71.00 target price on the stock.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same period in the previous year, the company posted $0.67 earnings per share.
Other analysts have also issued research reports about the stock. KeyCorp lifted their price objective on shares of Applied Materials from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Deutsche Bank lifted their price objective on shares of Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Vetr lowered shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 price objective on the stock. in a research note on Tuesday, November 21st. Nomura reiterated a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Finally, Citigroup lifted their price objective on shares of Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.06.
Applied Materials (AMAT) traded up $0.33 on Monday, hitting $56.99. 8,481,026 shares of the stock were exchanged, compared to its average volume of 14,886,050. The stock has a market capitalization of $59,860.00, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.00 and a beta of 1.72. Applied Materials has a 12 month low of $35.55 and a 12 month high of $60.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is currently 11.14%.
Applied Materials announced that its board has initiated a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other news, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AMAT. LeJeune Puetz Investment Counsel LLC bought a new stake in Applied Materials in the third quarter worth about $105,000. Financial Gravity Companies Inc. bought a new stake in Applied Materials in the fourth quarter worth about $110,000. Risk Paradigm Group LLC bought a new stake in Applied Materials in the fourth quarter worth about $110,000. Cerebellum GP LLC bought a new stake in Applied Materials in the fourth quarter worth about $122,000. Finally, SevenBridge Financial Group LLC raised its holdings in Applied Materials by 957.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock worth $122,000 after buying an additional 2,155 shares during the period. Hedge funds and other institutional investors own 79.93% of the company’s stock.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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