Applied Materials (NASDAQ:AMAT – Get Rating) issued its quarterly earnings data on Thursday. The manufacturing equipment provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.30, RTT News reports. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.44 billion. Applied Materials had a net margin of 25.31% and a return on equity of 57.03%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. 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 Price Performance
Shares of NASDAQ AMAT opened at $104.70 on Friday. The stock has a market cap of $90.07 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 3.16 and a beta of 1.49. Applied Materials has a 52 week low of $71.12 and a 52 week high of $167.06. The company’s 50-day moving average price is $88.65 and its 200 day moving average price is $97.56. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.
Applied Materials Dividend Announcement
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 paid a $0.26 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.99%. Applied Materials’s payout ratio is 13.98%.
Institutional Investors Weigh In On Applied Materials
Analyst Ratings Changes
Several research firms recently commented on AMAT. Morgan Stanley reduced their price target on shares of Applied Materials from $109.00 to $99.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Citigroup reduced their price target on shares of Applied Materials from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group upped their price target on shares of Applied Materials from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Friday. Summit Insights upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Evercore ISI upped their price target on shares of Applied Materials from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.04.
Applied Materials Company Profile
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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