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. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. The company operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.
Analyst Upgrades and Downgrades
AMAT has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Applied Materials from $133.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, July 25th. Citigroup dropped their price objective on shares of Applied Materials from $175.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, May 23rd. Bank of America dropped their price objective on shares of Applied Materials from $135.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Piper Sandler dropped their price objective on shares of Applied Materials from $153.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday, May 20th. Finally, Cowen dropped their price objective on shares of Applied Materials from $190.00 to $160.00 in a research note on Friday, May 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.04.
Applied Materials Stock Up 4.6 %
NASDAQ:AMAT traded up $4.85 during trading hours on Friday, reaching $110.38. The company had a trading volume of 6,617,189 shares, compared to its average volume of 8,095,334. The company has a quick ratio of 1.54, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The firm has a market cap of $96.02 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.70 and a beta of 1.51. The business's 50-day simple moving average is $98.69 and its two-hundred day simple moving average is $115.48. Applied Materials has a twelve month low of $82.67 and a twelve month high of $167.06.
Applied Materials (NASDAQ:AMAT - Get Rating) last posted its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.04). The company had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.35 billion. Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. On average, equities analysts expect that Applied Materials will post 7.43 earnings per share for the current year.
Applied Materials Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Wednesday, August 24th. Applied Materials's dividend payout ratio (DPR) is 13.87%.
Insider Buying and Selling at Applied Materials
In other Applied Materials news, SVP Teri A. Little sold 15,000 shares of the firm's stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $86.30, for a total value of $1,294,500.00. Following the transaction, the senior vice president now directly owns 93,169 shares of the company's stock, valued at $8,040,484.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company's stock.