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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Applied Materials, Inc.    AMAT

APPLIED MATERIALS, INC.

(AMAT)
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Applied Materials 4Q Results Beat Analysts' Forecasts

11/12/2020 | 04:37pm EST

By Micah Maidenberg

Applied Materials Inc. reported a stronger quarterly profit and better-than-expected revenues, a performance that comes amid several major deals across the semiconductor industry.

The provider of manufacturing equipment used to fabricate chips and related software and services on Thursday said earnings for its fiscal fourth quarter that ended Oct. 25 rose to $1.13 billion, or $1.23 a share, from $698 million, or 75 cents a share, the year earlier.

The company's adjusted profit of $1.25 a share was 8 cents more than what analysts expected for that metric, according to FactSet.

Sales rose to $4.69 billion from $3.75 billion year over year. The latest performance was ahead of the $4.6 billion analysts were looking for.

Based in Santa Clara, Calif., Applied has reported some pandemic-related challenges, like a disruption to its supply chain earlier this year tied to shelter-in-place orders in the San Francisco Bay Area and in Malaysia. Those disruptions lasted about six weeks, executives said in May.

Applied said Thursday it didn't record any incremental pandemic-related costs tied to Covid-19 in the latest quarter; those expenses totaled $30 million for its full fiscal year.

Meanwhile, Applied's customers are facing a changing landscape. In July, Analog Devices Inc. said it would buy rival Maxim Integrated Products Inc. In October, Marvell Technology Group Ltd. said it would purchase semiconductor maker Inphi Corp., while Intel Corp. agreed to sell its lash-memory manufacturing business to South Korea's SK Hynix Inc.

For its last fiscal year, Intel was Applied's second-largest customer by sales, accounting for 12% of sales, trailing only Taiwan Semiconductor Manufacturing Co., which made up 14% of the company's sales for that year, according to its latest annual report.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

11-12-20 1636ET

Stocks mentioned in the article
ChangeLast1st jan.
ANALOG DEVICES, INC. -0.40% 159.42 Delayed Quote.8.67%
APPLIED MATERIALS, INC. -0.17% 107.71 Delayed Quote.26.56%
INPHI CORPORATION -0.90% 177.18 Delayed Quote.11.55%
INTEL CORPORATION 0.94% 59.24 Delayed Quote.16.40%
MARVELL TECHNOLOGY GROUP LTD -1.68% 53.21 Delayed Quote.13.76%
MAXIM INTEGRATED PRODUCTS, INC. -0.22% 96.11 Delayed Quote.9.31%
SK HYNIX, INC. 0.00% 130500 End-of-day quote.10.13%
TAIWAN SEMICONDUCTOR CO., LTD. -5.42% 52.4 End-of-day quote.-15.76%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 3.19% 647 End-of-day quote.22.08%
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Financials (USD)
Sales 2021 19 480 M - -
Net income 2021 4 664 M - -
Net cash 2021 2 173 M - -
P/E ratio 2021 22,1x
Yield 2021 0,91%
Capitalization 98 603 M 98 603 M -
EV / Sales 2021 4,95x
EV / Sales 2022 4,55x
Nbr of Employees 24 000
Free-Float 45,4%
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Technical analysis trends APPLIED MATERIALS, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 98,65 $
Last Close Price 107,84 $
Spread / Highest target 20,5%
Spread / Average Target -8,52%
Spread / Lowest Target -41,6%
EPS Revisions
Managers and Directors
NameTitle
Gary E. Dickerson President, Chief Executive Officer & Director
Thomas J. Iannotti Chairman
Ginetto Addiego Senior VP-Engineering, Operations & Quality
Daniel J. Durn Chief Financial Officer & Senior Vice President
Omkaram Nalamasu Chief Technology Officer & Senior Vice President
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