Analysts Set Expectations for Applied Materials, Inc.’s Q2 2023 Earnings (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMATGet Rating) – B. Riley reduced their Q2 2023 EPS estimates for Applied Materials in a research note issued on Friday, November 18th. B. Riley analyst C. Ellis now forecasts that the manufacturing equipment provider will post earnings per share of $1.66 for the quarter, down from their prior estimate of $1.88. The consensus estimate for Applied Materials’ current full-year earnings is $6.66 per share.

Several other research firms also recently weighed in on AMAT. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, October 15th. The Goldman Sachs Group lowered their target price on shares of Applied Materials from $109.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $197.00 to $184.00 in a research report on Friday, August 19th. Cowen upped their target price on Applied Materials from $100.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Applied Materials from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.00.

Applied Materials Trading Up 0.2 %

Shares of NASDAQ AMAT opened at $104.70 on Monday. The stock has a market capitalization of $90.07 billion, a P/E ratio of 14.07, a PEG ratio of 3.16 and a beta of 1.49. Applied Materials has a 1-year low of $71.12 and a 1-year high of $167.06. The business’s 50 day moving average is $88.65 and its two-hundred day moving average is $97.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.45.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings data on Thursday, November 17th. The manufacturing equipment provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.30. Applied Materials had a net margin of 25.31% and a return on equity of 57.03%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the company posted $1.94 EPS. The business’s revenue was up 10.2% on a year-over-year basis.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be issued 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 dividend payout ratio is presently 13.98%.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently bought and sold shares of the company. IFM Investors Pty Ltd grew its holdings in shares of Applied Materials by 16.9% during the first quarter. IFM Investors Pty Ltd now owns 141,449 shares of the manufacturing equipment provider’s stock valued at $18,643,000 after buying an additional 20,444 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Applied Materials in the first quarter valued at about $212,000. Center for Financial Planning Inc. purchased a new position in shares of Applied Materials in the first quarter worth about $25,000. Edge Capital Group LLC acquired a new stake in shares of Applied Materials during the first quarter worth about $520,000. Finally, Hohimer Wealth Management LLC boosted its position in Applied Materials by 4.0% in the first quarter. Hohimer Wealth Management LLC now owns 48,754 shares of the manufacturing equipment provider’s stock valued at $6,426,000 after buying an additional 1,869 shares during the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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Applied Materials, Inc engages in the provision of 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.

Further Reading

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

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