Applied Materials Inc. (AMAT) to Post Q1 2017 Earnings of $0.63 Per Share, DA Davidson Forecasts
Applied Materials Inc. (NASDAQ:AMAT) – Investment analysts at DA Davidson boosted their Q1 2017 earnings per share estimates for Applied Materials in a research report issued to clients and investors on Friday. DA Davidson analyst T. Diffely now forecasts that the brokerage will post earnings per share of $0.63 for the quarter, up from their prior forecast of $0.56. DA Davidson has a “Buy” rating and a $32.00 price objective on the stock. DA Davidson also issued estimates for Applied Materials’ Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.53 EPS, Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.30 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.50 EPS.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company earned $3.30 billion during the quarter, compared to analyst estimates of $3.31 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. Applied Materials’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS.
AMAT has been the subject of several other research reports. Goldman Sachs Group Inc. set a $33.00 target price on Applied Materials and gave the stock a “buy” rating in a research note on Friday, August 19th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $34.00 target price on shares of Applied Materials in a research note on Wednesday, November 16th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, November 16th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Applied Materials in a research note on Wednesday, August 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $29.00) on shares of Applied Materials in a research note on Sunday, August 21st. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $31.95.
Shares of Applied Materials (NASDAQ:AMAT) opened at 31.67 on Monday. The firm has a market cap of $34.24 billion, a P/E ratio of 20.56 and a beta of 1.86. The company has a 50-day moving average of $29.12 and a 200 day moving average of $26.85. Applied Materials has a 52-week low of $15.44 and a 52-week high of $31.80.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its position in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock valued at $101,000 after buying an additional 2,418 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Applied Materials during the third quarter valued at about $103,000. TLP Group LLC purchased a new position in shares of Applied Materials during the second quarter valued at about $105,000. MCF Advisors LLC boosted its position in shares of Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock valued at $110,000 after buying an additional 12 shares during the last quarter. Finally, Clean Yield Group boosted its position in shares of Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 700 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.
In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $30.15, for a total value of $784,955.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary E. Dickerson sold 229,935 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $29.71, for a total value of $6,831,368.85. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 1.26%. Applied Materials’s dividend payout ratio (DPR) is presently 25.64%.
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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.
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