Applied Materials (AMAT) to Release Earnings on Thursday

Applied Materials (NASDAQ:AMAT - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Thursday, February 15th. Analysts expect Applied Materials to post earnings of $1.89 per share for the quarter. Applied Materials has set its Q1 guidance at $1.72-2.08 EPS and its Q1 2024 guidance at $1.72-$2.08 EPS.Parties that are interested in registering for the company's conference call can do so using this link.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.14. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect Applied Materials to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Applied Materials Stock Performance

AMAT opened at $170.90 on Thursday. Applied Materials has a 52-week low of $109.00 and a 52-week high of $178.40. The firm's 50-day moving average price is $159.02 and its 200-day moving average price is $148.85. The company has a quick ratio of 1.82, a current ratio of 2.60 and a debt-to-equity ratio of 0.33. The company has a market cap of $142.20 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 3.40 and a beta of 1.55.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 22nd will be issued a $0.32 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 0.75%. Applied Materials's dividend payout ratio (DPR) is presently 15.78%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMAT shares. Redburn Atlantic upgraded shares of Applied Materials from a "neutral" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Wednesday, November 22nd. Morgan Stanley upped their price objective on Applied Materials from $139.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Friday, November 17th. Barclays upped their price objective on Applied Materials from $120.00 to $140.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 16th. Raymond James upped their price objective on Applied Materials from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $180.00 target price on shares of Applied Materials in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and an average price target of $167.92.

Insider Activity

In other news, SVP Omkaram Nalamasu sold 23,228 shares of Applied Materials stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the transaction, the senior vice president now owns 190,972 shares in the company, valued at approximately $31,023,401.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMAT. Financial Freedom LLC acquired a new position in Applied Materials during the fourth quarter worth $25,000. Quarry LP acquired a new position in Applied Materials during the first quarter worth $40,000. Chilton Capital Management LLC purchased a new stake in Applied Materials during the first quarter worth $43,000. KB Financial Partners LLC purchased a new stake in Applied Materials during the first quarter worth $54,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Applied Materials during the fourth quarter worth $56,000. Institutional investors and hedge funds own 77.24% of the company's stock.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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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