Applied Materials, Inc. (NASDAQ:AMAT) – Stock analysts at B. Riley lifted their FY2018 EPS estimates for Applied Materials in a report released on Thursday. B. Riley analyst C. Ellis now forecasts that the manufacturing equipment provider will post earnings per share of $4.61 for the year, up from their previous estimate of $4.11. B. Riley has a “Buy” rating and a $71.00 price objective on the stock.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the company earned $0.67 earnings per share.
Applied Materials (NASDAQ AMAT) traded up $1.84 during mid-day trading on Monday, reaching $56.87. 11,881,415 shares of the company’s stock were exchanged, compared to its average volume of 15,370,000. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials has a 12 month low of $34.72 and a 12 month high of $60.89. The firm has a market capitalization of $59,890.00, a PE ratio of 15.84, a P/E/G ratio of 1.00 and a beta of 1.72.
Applied Materials declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is presently 11.14%.
In other news, VP Omkaram Nalamasu sold 53,466 shares of Applied Materials stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 312,716 shares of company stock worth $16,218,746 over the last 90 days. Insiders own 0.35% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after acquiring an additional 1,248,388 shares during the period. Egerton Capital UK LLP raised its position in shares of Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Applied Materials by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock valued at $661,743,000 after purchasing an additional 234,528 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Applied Materials by 10.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after purchasing an additional 1,033,700 shares in the last quarter. 79.93% of the stock is owned by institutional investors and hedge funds.
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.
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