DA Davidson Equities Analysts Decrease Earnings Estimates for Applied Materials, Inc. (NASDAQ:AMAT)

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Applied Materials, Inc. (NASDAQ:AMAT) – Stock analysts at DA Davidson reduced their FY2020 earnings per share estimates for Applied Materials in a report issued on Friday, August 16th. DA Davidson analyst T. Diffely now expects that the manufacturing equipment provider will earn $3.35 per share for the year, down from their previous estimate of $3.50. DA Davidson has a “Neutral” rating and a $45.00 price objective on the stock.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. KeyCorp dropped their target price on Applied Materials from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, June 4th. Nomura set a $40.00 target price on Applied Materials and gave the company a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus set a $57.00 target price on Applied Materials and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, ValuEngine lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Applied Materials presently has an average rating of “Buy” and an average target price of $51.00.

Shares of NASDAQ:AMAT opened at $46.73 on Monday. Applied Materials has a 1 year low of $28.79 and a 1 year high of $52.42. The business has a 50 day simple moving average of $47.24 and a two-hundred day simple moving average of $42.62. The firm has a market capitalization of $43.80 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 2.36 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. Applied Materials’s payout ratio is 18.88%.

Several hedge funds and other institutional investors have recently made changes to their positions in AMAT. Nuveen Asset Management LLC boosted its holdings in shares of Applied Materials by 2,914.1% in the second quarter. Nuveen Asset Management LLC now owns 11,359,951 shares of the manufacturing equipment provider’s stock valued at $510,176,000 after purchasing an additional 10,983,055 shares during the period. Invesco Ltd. boosted its holdings in shares of Applied Materials by 72.2% in the second quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock valued at $1,150,193,000 after purchasing an additional 10,735,173 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Applied Materials by 34.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after purchasing an additional 7,230,052 shares during the period. Generation Investment Management LLP purchased a new stake in shares of Applied Materials in the second quarter valued at approximately $204,994,000. Finally, FMR LLC boosted its holdings in shares of Applied Materials by 16.3% in the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock valued at $1,032,245,000 after purchasing an additional 3,656,960 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

About Applied Materials

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

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