Applied Materials Inc. (NASDAQ:AMAT) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.62-0.70 for the period, compared to the Thomson Reuters consensus estimate of $0.58. The company issued revenue guidance of $3.20-3.34 billion, compared to the consensus revenue estimate of $3.12 billion.

Shares of Applied Materials Inc. (NASDAQ:AMAT) opened at 30.73 on Friday. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 24.24 and a beta of 1.86. Applied Materials Inc. has a 12 month low of $15.44 and a 12 month high of $31.07. The company’s 50-day moving average price is $29.00 and its 200-day moving average price is $26.51.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.31 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The business’s quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. Analysts anticipate that Applied Materials Inc. will post $1.75 EPS for the current year.

Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. Applied Materials’s dividend payout ratio is currently 31.25%.

AMAT has been the topic of several recent research reports. Zacks Investment Research downgraded Applied Materials from a buy rating to a hold rating in a research report on Tuesday, July 26th. Citigroup Inc. increased their target price on Applied Materials from $26.00 to $29.00 and gave the stock an outperform rating in a research report on Tuesday, August 9th. Credit Suisse Group AG increased their target price on Applied Materials from $26.00 to $29.00 and gave the stock an outperform rating in a research report on Tuesday, August 9th. B. Riley increased their target price on Applied Materials from $27.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Stifel Nicolaus increased their target price on Applied Materials from $28.00 to $35.00 and gave the stock a buy rating in a research report on Monday, August 15th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $31.34.

In related news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary E. Dickerson sold 229,935 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $29.71, for a total transaction of $6,831,368.85. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Several large investors have recently made changes to their positions in AMAT. Associated Banc Corp purchased a new stake in shares of Applied Materials during the second quarter valued at $212,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Applied Materials during the second quarter valued at $257,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Applied Materials during the second quarter valued at $342,000. TFS Capital LLC purchased a new stake in shares of Applied Materials during the second quarter valued at $378,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Applied Materials during the second quarter valued at $388,000. 83.73% of the stock is owned by institutional investors.

Applied Materials Company Profile

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

5 Day Chart for NASDAQ:AMAT

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