Applied Materials, Inc. (NASDAQ:AMAT) – Research analysts at DA Davidson cut their FY2020 earnings per share (EPS) estimates for shares of Applied Materials in a research report issued to clients and investors on Friday, August 16th. DA Davidson analyst T. Diffely now anticipates that the manufacturing equipment provider will post earnings per share of $3.35 for the year, down from their prior estimate of $3.50. DA Davidson has a “Neutral” rating and a $45.00 price target on the stock.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS.
Other research analysts also recently issued reports about the company. Susquehanna Bancshares set a $60.00 price objective on Applied Materials and gave the company a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued a “buy” rating and issued a $54.00 price objective on shares of Applied Materials in a research note on Wednesday, August 14th. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Bank of America reissued a “neutral” rating and issued a $52.00 price objective (up from $45.00) on shares of Applied Materials in a research note on Friday, May 17th. Finally, Goldman Sachs Group downgraded Applied Materials from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and a consensus target price of $51.00.
Shares of NASDAQ:AMAT opened at $46.73 on Monday. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 2.36 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72. The business’s 50-day moving average is $47.24 and its 200-day moving average is $42.62. Applied Materials has a 1 year low of $28.79 and a 1 year high of $52.42.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.88%.
A number of hedge funds have recently bought and sold shares of AMAT. Squar Milner Financial Services LLC increased its holdings in Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after purchasing an additional 458 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in Applied Materials during the 1st quarter worth approximately $27,000. Horan Capital Advisors LLC. bought a new stake in Applied Materials during the 1st quarter worth approximately $31,000. Cable Hill Partners LLC increased its holdings in Applied Materials by 378.4% during the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new stake in Applied Materials during the 1st quarter worth approximately $33,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.
About Applied Materials
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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