Applied Materials (AMAT) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Applied Materials (NASDAQ:AMAT) released its quarterly earnings data on Wednesday. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08, Bloomberg Earnings reports. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. During the same quarter last year, the firm posted $0.67 earnings per share. Applied Materials updated its Q2 guidance to $1.10-1.18 EPS.

Shares of Applied Materials (NASDAQ:AMAT) opened at $52.20 on Thursday. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. Applied Materials has a 1-year low of $34.58 and a 1-year high of $60.89. The stock has a market capitalization of $54,740.00, a price-to-earnings ratio of 16.47, a P/E/G ratio of 0.97 and a beta of 1.72.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is currently 12.62%.

Several analysts have recently commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $74.00 target price (up previously from $67.00) on shares of Applied Materials in a research report on Thursday. Stifel Nicolaus raised their target price on Applied Materials from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 target price for the company in a research report on Monday, November 27th. Finally, ValuEngine raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.56.

In related news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Forrest sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is owned by corporate insiders.

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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.

Earnings History for Applied Materials (NASDAQ:AMAT)

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