Analysts Expect Applied Materials, Inc. (NASDAQ:AMAT) Will Post Quarterly Sales of $6.35 Billion

Equities analysts predict that Applied Materials, Inc. (NASDAQ:AMATGet Rating) will announce sales of $6.35 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Applied Materials’ earnings. The highest sales estimate is $6.36 billion and the lowest is $6.35 billion. Applied Materials reported sales of $5.58 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 13.8%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Applied Materials will report full-year sales of $26.46 billion for the current year, with estimates ranging from $26.34 billion to $26.54 billion. For the next year, analysts expect that the business will report sales of $29.63 billion, with estimates ranging from $28.57 billion to $30.61 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Applied Materials.

Applied Materials (NASDAQ:AMATGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.16 billion. Applied Materials had a net margin of 27.10% and a return on equity of 55.62%. Applied Materials’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS.

A number of analysts have recently commented on AMAT shares. Susquehanna Bancshares reiterated a “hold” rating and issued a $160.00 price target on shares of Applied Materials in a research note on Monday, February 14th. Barclays reduced their price target on shares of Applied Materials from $165.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Wells Fargo & Company reduced their price target on shares of Applied Materials from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. Finally, Stifel Nicolaus boosted their target price on shares of Applied Materials from $190.00 to $197.00 in a research report on Thursday, April 7th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $169.54.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Center for Financial Planning Inc. bought a new stake in Applied Materials in the first quarter worth $25,000. Monolith Advisors bought a new position in Applied Materials during the fourth quarter valued at $25,000. D Orazio & Associates Inc. bought a new position in Applied Materials during the third quarter valued at $30,000. MV Capital Management Inc. increased its position in Applied Materials by 76.1% during the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock valued at $30,000 after acquiring an additional 102 shares during the last quarter. Finally, Fortis Advisors LLC bought a new position in Applied Materials during the third quarter valued at $32,000. Institutional investors own 77.90% of the company’s stock.

NASDAQ:AMAT traded up $5.10 on Monday, reaching $111.86. 8,318,416 shares of the stock traded hands, compared to its average volume of 7,450,329. The company’s fifty day simple moving average is $121.19 and its 200 day simple moving average is $137.19. Applied Materials has a 12 month low of $102.99 and a 12 month high of $167.06. The company has a market capitalization of $98.82 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.28 and a beta of 1.44. The company has a current ratio of 2.51, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Friday, March 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 26th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, May 25th. This is a boost from Applied Materials’s previous quarterly dividend of $0.24. Applied Materials’s payout ratio is currently 13.35%.

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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