Applied Materials (NASDAQ:AMAT) Issues Quarterly Earnings Results

Applied Materials (NASDAQ:AMATGet Rating) announced its quarterly earnings data on Thursday. The manufacturing equipment provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.73 by $0.30, RTT News reports. Applied Materials had a net margin of 25.31% and a return on equity of 57.03%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Applied Materials updated its Q1 guidance to $1.75-2.11 EPS and its Q1 2023 guidance to $1.75-$2.11 EPS.

Applied Materials Stock Up 0.2 %

NASDAQ:AMAT traded up $0.25 on Friday, hitting $104.70. The stock had a trading volume of 10,921,081 shares, compared to its average volume of 9,136,795. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 2.26. The stock has a market cap of $90.07 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 3.16 and a beta of 1.49. Applied Materials has a 1 year low of $71.12 and a 1 year high of $167.06. The firm’s fifty day simple moving average is $88.65 and its two-hundred day simple moving average is $97.56.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 annualized dividend and a yield of 0.99%. Applied Materials’s dividend payout ratio (DPR) is 13.98%.

Analysts Set New Price Targets

AMAT has been the topic of a number of research reports. Berenberg Bank decreased their target price on shares of Applied Materials from $155.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, October 14th. Morgan Stanley decreased their target price on shares of Applied Materials from $109.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna Bancshares boosted their target price on shares of Applied Materials from $80.00 to $92.00 in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Applied Materials from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. boosted its holdings in Applied Materials by 150.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 722 shares of the manufacturing equipment provider’s stock worth $95,000 after buying an additional 434 shares during the period. Range Financial Group LLC bought a new position in Applied Materials in the 1st quarter worth approximately $210,000. Stevens Capital Management LP bought a new position in Applied Materials in the 1st quarter worth approximately $253,000. Dynamic Technology Lab Private Ltd bought a new position in Applied Materials in the 1st quarter worth approximately $261,000. Finally, West Michigan Advisors LLC lifted its stake in Applied Materials by 16.5% in the 1st quarter. West Michigan Advisors LLC now owns 2,008 shares of the manufacturing equipment provider’s stock worth $265,000 after purchasing an additional 285 shares in the last quarter. 74.99% of the stock is owned by institutional investors.

Applied Materials Company Profile

(Get Rating)

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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Earnings History for Applied Materials (NASDAQ:AMAT)

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