Brokerages Expect Applied Materials, Inc. (NASDAQ:AMAT) Will Post Quarterly Sales of $3.53 Billion

Equities analysts predict that Applied Materials, Inc. (NASDAQ:AMAT) will announce $3.53 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Applied Materials’ earnings. The highest sales estimate is $3.53 billion and the lowest is $3.52 billion. Applied Materials reported sales of $4.47 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 21%. The company is expected to report its next earnings results on Thursday, August 15th.

On average, analysts expect that Applied Materials will report full-year sales of $14.47 billion for the current financial year, with estimates ranging from $14.25 billion to $14.56 billion. For the next financial year, analysts anticipate that the company will report sales of $15.69 billion, with estimates ranging from $15.44 billion to $16.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Applied Materials.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share.

Several brokerages recently weighed in on AMAT. Wells Fargo & Co raised their price objective on shares of Applied Materials from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. UBS Group raised their target price on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Citigroup raised their target price on Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. ValuEngine raised Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up from $44.00) on shares of Applied Materials in a research report on Friday, May 17th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.43.

AMAT traded down $0.35 during midday trading on Thursday, hitting $41.98. 8,477,443 shares of the company’s stock traded hands, compared to its average volume of 10,290,767. The stock has a market capitalization of $40.22 billion, a P/E ratio of 9.43, a PEG ratio of 1.60 and a beta of 1.66. The company’s fifty day moving average price is $41.10. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. Applied Materials has a one year low of $28.79 and a one year high of $50.39.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.00%. Applied Materials’s payout ratio is presently 18.88%.

In related news, Director Stephen R. Forrest sold 2,000 shares of Applied Materials stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.45, for a total value of $84,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steve G. Ghanayem sold 25,000 shares of Applied Materials stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Applied Materials by 16.3% during the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock worth $1,032,245,000 after acquiring an additional 3,656,960 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Applied Materials by 13.6% during the fourth quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock valued at $756,588,000 after buying an additional 2,772,739 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after buying an additional 794,347 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Applied Materials by 5.0% during the first quarter. American Century Companies Inc. now owns 13,190,671 shares of the manufacturing equipment provider’s stock valued at $523,142,000 after buying an additional 627,763 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Applied Materials during the fourth quarter valued at $407,503,000. 77.54% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

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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