Applied Materials (NASDAQ:AMAT) issued an update on its second quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.98-1.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.92. The company issued revenue guidance of $4.14-4.54 billion, compared to the consensus revenue estimate of $4.05 billion.Applied Materials also updated its Q2 guidance to $0.98 to $1.10 EPS.
AMAT has been the topic of several recent research reports. Royal Bank of Canada restated an outperform rating and set a $75.00 price target on shares of Applied Materials in a report on Thursday. B. Riley raised their price target on Applied Materials from $71.00 to $74.00 and gave the stock a buy rating in a research report on Thursday. Cowen lifted their price objective on shares of Applied Materials from $75.00 to $78.00 and gave the stock an outperform rating in a research note on Thursday. KeyCorp boosted their price objective on shares of Applied Materials from $70.00 to $86.00 and gave the company an overweight rating in a research report on Thursday. Finally, Bank of America raised shares of Applied Materials from a neutral rating to a buy rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $71.04.
AMAT stock traded down $0.52 during midday trading on Friday, reaching $66.85. The company’s stock had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. Applied Materials has a 1 year low of $36.80 and a 1 year high of $69.44. The firm has a market capitalization of $57.80 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.01 and a beta of 1.64. The stock has a fifty day simple moving average of $61.78 and a two-hundred day simple moving average of $55.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.06. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. As a group, analysts forecast that Applied Materials will post 3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.21 per share. 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 payout ratio is 27.63%.
In related news, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $60.73, for a total value of $3,036,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,053,000 shares of company stock valued at $64,335,080 in the last quarter. 0.41% of the stock is currently owned by company insiders.
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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