Applied Materials, Inc. to Post FY2024 Earnings of $8.47 Per Share, Zacks Research Forecasts (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMAT - Free Report) - Equities researchers at Zacks Research boosted their FY2024 earnings per share estimates for shares of Applied Materials in a research note issued to investors on Thursday, September 5th. Zacks Research analyst R. Department now expects that the manufacturing equipment provider will post earnings of $8.47 per share for the year, up from their previous estimate of $8.24. The consensus estimate for Applied Materials' current full-year earnings is $8.49 per share. Zacks Research also issued estimates for Applied Materials' Q4 2024 earnings at $2.13 EPS, Q1 2025 earnings at $2.18 EPS, Q2 2025 earnings at $2.26 EPS, Q3 2025 earnings at $2.38 EPS, Q4 2025 earnings at $2.55 EPS, FY2025 earnings at $9.38 EPS, Q1 2026 earnings at $2.40 EPS, Q2 2026 earnings at $2.57 EPS, Q3 2026 earnings at $2.65 EPS and FY2026 earnings at $10.48 EPS.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share.

A number of other brokerages have also recently weighed in on AMAT. Citigroup cut their price objective on shares of Applied Materials from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 5th. B. Riley reduced their price objective on Applied Materials from $300.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Bank of America boosted their target price on Applied Materials from $222.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 17th. Mizuho raised their price target on Applied Materials from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, May 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.14.

Applied Materials Stock Up 1.6 %

Shares of NASDAQ:AMAT traded up $2.80 during midday trading on Monday, reaching $177.55. The company's stock had a trading volume of 7,453,785 shares, compared to its average volume of 6,074,903. Applied Materials has a 12-month low of $129.21 and a 12-month high of $255.89. The firm has a market capitalization of $146.37 billion, a P/E ratio of 20.41, a PEG ratio of 2.08 and a beta of 1.55. The firm has a 50 day moving average of $209.96 and a 200-day moving average of $211.42. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMAT. Vanguard Group Inc. boosted its position in shares of Applied Materials by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider's stock worth $15,469,028,000 after purchasing an additional 891,446 shares in the last quarter. Capital International Investors boosted its holdings in Applied Materials by 3.2% in the fourth quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider's stock worth $3,566,418,000 after acquiring an additional 682,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Applied Materials by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,738,382 shares of the manufacturing equipment provider's stock worth $2,226,581,000 after acquiring an additional 224,296 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Applied Materials by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 11,260,630 shares of the manufacturing equipment provider's stock valued at $2,322,280,000 after acquiring an additional 360,002 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Applied Materials in the 4th quarter valued at approximately $1,514,814,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Transactions at Applied Materials

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the transaction, the insider now directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Thomas J. Iannotti sold 9,827 shares of the firm's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now owns 49,185 shares of the company's stock, valued at approximately $11,639,630.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Prabu G. Raja sold 50,000 shares of the company's stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the transaction, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. Applied Materials's payout ratio is 18.39%.

About Applied Materials

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.