Applied Materials (AMAT) reported quarterly earnings results on Thursday, May-19-2016. The company said it had a profit of $0.34 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 $0.32. The company posted revenue of $2450.00 million in the period, compared to analysts expectations of $2428.97 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.
Many Wall Street Analysts have commented on Applied Materials. Applied Materials was Downgraded by Susquehanna to ” Negative” on Apr 19, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 22 from a previous price target of $21 .Company shares were Reiterated by Deutsche Bank on Apr 18, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .
Applied Materials opened for trading at $19.54 and hit $19.98 on the upside on Monday, eventually ending the session at $19.85, with a gain of 1.22% or 0.24 points. The heightened volatility saw the trading volume jump to 77,95,882 shares. Company has a market cap of $22,445 M.
In a different news, on Apr 7, 2016, Susan M. James (director) sold 8,980 shares at $20.78 per share price. According to the SEC, on Mar 14, 2016, Stephen R Forrest (director) sold 5,000 shares at $19.99 per share price. On Oct 2, 2015, Randhir Thakur (EVP & GM, Silicon Systems) sold 88,435 shares at $14.75 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.