Applied Materials, Inc. (NASDAQ:AMAT) – Equities research analysts at DA Davidson cut their Q1 2020 EPS estimates for shares of Applied Materials in a research note issued to investors on Friday, August 17th. DA Davidson analyst T. Diffely now forecasts that the manufacturing equipment provider will earn $1.02 per share for the quarter, down from their prior estimate of $1.04.
Several other analysts also recently weighed in on AMAT. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Citigroup upped their target price on Applied Materials from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, May 14th. Cowen started coverage on Applied Materials in a research note on Monday, May 14th. They issued a “market perform” rating and a $60.00 target price on the stock. Goldman Sachs Group downgraded Applied Materials from a “buy” rating to a “neutral” rating in a research note on Friday, May 18th. Finally, B. Riley lowered their target price on Applied Materials from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, May 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $61.44.
Applied Materials stock opened at $43.53 on Monday. The company has a current ratio of 2.60, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75. The stock has a market cap of $48.52 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.80 and a beta of 1.63. Applied Materials has a fifty-two week low of $42.62 and a fifty-two week high of $62.40.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. Applied Materials’s dividend payout ratio is currently 24.62%.
A number of hedge funds have recently modified their holdings of the business. Andra AP fonden raised its holdings in shares of Applied Materials by 9.1% during the second quarter. Andra AP fonden now owns 143,200 shares of the manufacturing equipment provider’s stock valued at $6,614,000 after acquiring an additional 12,000 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Applied Materials by 7.1% during the second quarter. Schroder Investment Management Group now owns 1,541,480 shares of the manufacturing equipment provider’s stock valued at $69,814,000 after acquiring an additional 102,206 shares during the last quarter. Carnegie Capital Asset Management LLC raised its holdings in shares of Applied Materials by 16.7% during the second quarter. Carnegie Capital Asset Management LLC now owns 34,538 shares of the manufacturing equipment provider’s stock valued at $1,656,000 after acquiring an additional 4,950 shares during the last quarter. Amussen Hunsaker Associates LLC acquired a new position in shares of Applied Materials during the second quarter valued at approximately $162,000. Finally, Guinness Asset Management Ltd raised its holdings in shares of Applied Materials by 30.0% during the second quarter. Guinness Asset Management Ltd now owns 141,100 shares of the manufacturing equipment provider’s stock valued at $6,518,000 after acquiring an additional 32,540 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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