Applied Materials (NASDAQ:AMAT) Issues Q4 2024 Earnings Guidance

Applied Materials (NASDAQ:AMAT) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.000-2.360 for the period, compared to the consensus EPS estimate of 2.140. The company issued revenue guidance of $6.5 billion-$7.3 billion, compared to the consensus revenue estimate of $6.9 billion. Applied Materials also updated its Q4 guidance to $2.00-2.36 EPS.

Applied Materials Trading Up 5.1 %

AMAT stock traded up $10.20 during midday trading on Thursday, reaching $211.83. 10,587,844 shares of the company traded hands, compared to its average volume of 5,958,616. The firm has a market capitalization of $175.39 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 2.45 and a beta of 1.56. The business has a 50 day moving average of $222.98 and a 200-day moving average of $209.11. Applied Materials has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. As a group, sell-side analysts expect that Applied Materials will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.76%. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMAT. Bank of America increased their price target on Applied Materials from $222.00 to $250.00 and gave the stock a buy rating in a research report on Friday, May 17th. JPMorgan Chase & Co. boosted their price objective on shares of Applied Materials from $230.00 to $240.00 and gave the stock an overweight rating in a research note on Friday, May 17th. B. Riley increased their target price on Applied Materials from $255.00 to $300.00 and gave the company a buy rating in a research report on Thursday, June 20th. Susquehanna increased their price target on shares of Applied Materials from $160.00 to $185.00 and gave the company a neutral rating in a research report on Thursday, May 16th. Finally, Mizuho lifted their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the stock a buy rating in a research report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $225.40.

Insider Activity at Applied Materials

In related news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,827 shares of company stock worth $21,382,560. 0.29% of the stock is owned by corporate insiders.

Applied Materials Company Profile

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.