Applied Materials, Inc. to Post Q1 2023 Earnings of $1.93 Per Share, Jefferies Financial Group Forecasts (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMATGet Rating) – Equities researchers at Jefferies Financial Group lowered their Q1 2023 EPS estimates for Applied Materials in a research note issued to investors on Friday, November 18th. Jefferies Financial Group analyst M. Lipacis now forecasts that the manufacturing equipment provider will earn $1.93 per share for the quarter, down from their prior estimate of $2.05. The consensus estimate for Applied Materials’ current full-year earnings is $6.66 per share. Jefferies Financial Group also issued estimates for Applied Materials’ FY2024 earnings at $7.15 EPS.

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

AMAT has been the subject of a number of other research reports. Stifel Nicolaus cut their price target on shares of Applied Materials from $197.00 to $184.00 in a research note on Friday, August 19th. Cowen raised their price objective on shares of Applied Materials from $100.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday. William Blair initiated coverage on shares of Applied Materials in a report on Monday, October 17th. They set a “market perform” rating for the company. Evercore ISI raised their price target on shares of Applied Materials from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Finally, Susquehanna Bancshares raised their price target on shares of Applied Materials from $80.00 to $92.00 in a report on Friday. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Applied Materials Trading Up 0.2 %

Shares of NASDAQ:AMAT opened at $104.70 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 2.26. The stock’s 50-day moving average is $88.65 and its 200-day moving average is $97.33. Applied Materials has a 52-week low of $71.12 and a 52-week high of $167.06. The company has a market cap of $90.07 billion, a P/E ratio of 14.07, a P/E/G ratio of 3.16 and a beta of 1.49.

Institutional Investors Weigh In On Applied Materials

Several institutional investors have recently added to or reduced their stakes in AMAT. IFM Investors Pty Ltd lifted its position in Applied Materials by 16.9% in the 1st quarter. IFM Investors Pty Ltd now owns 141,449 shares of the manufacturing equipment provider’s stock valued at $18,643,000 after acquiring an additional 20,444 shares in the last quarter. Triumph Capital Management bought a new stake in Applied Materials in the 1st quarter valued at $212,000. Center for Financial Planning Inc. bought a new stake in Applied Materials in the 1st quarter valued at $25,000. Edge Capital Group LLC bought a new stake in Applied Materials in the 1st quarter valued at $520,000. Finally, Hohimer Wealth Management LLC lifted its position in Applied Materials by 4.0% during the 1st quarter. Hohimer Wealth Management LLC now owns 48,754 shares of the manufacturing equipment provider’s stock worth $6,426,000 after buying an additional 1,869 shares in the last quarter. 74.99% of the stock is owned by institutional investors.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 annualized dividend and a yield of 0.99%. Applied Materials’s dividend payout ratio is currently 13.98%.

About Applied Materials

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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.

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

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