Company Update (NASDAQ:AMAT): Applied Materials (AMAT) Stock Hurt by Intel’s Earnings Results

[at TheStreet] – Applied Materials (AMAT) stock declined in Friday’s trading session as a fourth straight quarterly cut to Intel’s semiconductor capital forecast negatively impacted semiconductor equipment companies. Read more on this. Applied Materials, Inc. (AMAT) , valued at $18.48B, started trading this morning at $15.95. A quick look at the market, the company’s stock traded between $15.85 and $16.42 and has traded between $14.25 and $25.64 over the past year. Applied Materials (AMAT) shares are currently priced at 13.89x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.01x earnings multiple for the same period. And for income investors, the company pays shareholders $0.40 per share annually in dividends, yielding 2.39%. Consensus earnings for the current quarter by the 20 sell-side analysts covering the stock is an estimate of $0.25 per share, which would be $0.02 worse than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $1.21 which would be a $0.02 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.24 Billion. If realized, that would be a 5.08% decrease over the year-ago quarter. In terms of ratings, Nomura upgraded AMAT from Neutral to Buy (Oct 26, 2015). Previously, Citigroup downgraded AMAT from Buy to Neutral. The average price target for AMAT shares by the analysts covering it is $21.14, which is 32.54% above where the stock opened. See more in (NASDAQ:AMAT) Similar Articles: Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials Appoints Adrianna Ma to Board of Directors Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials Inc. — Moody’s assigns A3 to Applied Materials’ proposed snr unsec debt; outlook stable Company Update: Applied Materials Inc (NASDAQ:AMAT) – What to Expect From Applied Materials Earnings