Applied Materials (AMAT) reported quarterly earnings results on Thursday, Aug-18-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.48. The company posted revenue of $2821.00 million in the period, compared to analysts expectations of $2838.86 million. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
Many Wall Street Analysts have commented on Applied Materials. Company shares were Reiterated by Stifel on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $28 .Company shares were Reiterated by Needham on Jul 12, 2016 to “Buy”, Firm has raised the Price Target to $ 29 from a previous price target of $26 .Applied Materials was Upgraded by Susquehanna to ” Neutral” on Jun 28, 2016.
Applied Materials opened for trading at $27.43 and hit $27.43 on the upside on Wednesday, eventually ending the session at $27.29, with a gain of 0.26% or 0.07 points. The heightened volatility saw the trading volume jump to 1,02,55,330 shares. Company has a market cap of $29,723 M.
Investors should note that on Jun 9, 2016, Applied Materials announced a cash dividend of $0.1000. The company’s management has announced Aug 23, 2016 as the ex-dividend date and fixed the record date on Aug 25, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on Jun 27, 2016, Ali Salehpour (Sr. VP, GM New Mrkts & Service) sold 35,505 shares at $24.07 per share price. According to the SEC, on May 27, 2016, Thomas J Iannotti (director) sold 15,000 shares at $23.67 per share price. On May 25, 2016, Stephen R Forrest (director) sold 5,000 shares at $22.86 per share price, according to the Form-4 filing with the securities and exchange commission.
Applied Materials Inc. (Applied) provides manufacturing equipment services and software to the global semiconductor flat panel display solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group Applied Global Services Display and Energy and Environmental Solutions. The Silicon Systems Group segment develops manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays organic light-emitting diodes and other display technologies for televisions personal computers tablets smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.