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Applied Materials, Inc. (AMAT) is set to release its earnings report for the second quarter of fiscal year 2023 on Thursday, May 19. This highly anticipated report is expected to give investors and analysts insights into the company's financial performance, market position, and future growth prospects.
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Applied Materials posted fiscal first quarter earnings that surpassed analysts’ expectations. The chip equipment maker’s adjusted earnings came in at $2.03 a share for the quarter ending January, well above the consensus expectation of $1.93 (per FactSet poll) . Revenue rose +7% year-over-year to $6.74 billion, vs. analysts’ expectations of $6.7 billion. Applied Material’s forecast range for...
Applied Materials (AMAT) is a company that produces equipment, services, and software for the semiconductor industry. The company recently reported its earnings on February 16, 2023, and while the results were positive, the stock's recent movement is showing a potential sign of a reversal. The upper Bollinger Band, a technical analysis tool used to gauge a stock's volatility and possible...
Applied Materials posted fourth quarter earnings that surpassed analysts’ expectations. The chip equipment company’s adjusted earnings came in at $2.03 a share for the October quarter, beating the consensus of $1.73 (based on FactSet survey). Revenue of $6.75 billion also topped analysts’ expectations of $6.45 billion. Applied Materials’ Semiconductor Systems segment generated sales of $5.04...
Lam Research reported quarterly adjusted earnings of $8.83 per share, topping the Zacks Consensus Estimate of $7.31 per share. The year-ago quarter’s earnings were $8.09 per share. The semiconductor equipment company’s revenues grew +11.8% from the year-ago quarter to $4.64 billion for the quarter ,exceeding the Zacks Consensus Estimate by 10.14%. Revenues from the company’s system business...
Citigroup analysts’ top four semiconductor picks for 2022 are Applied Materials, Lam Research, Nvidia and Marvell Technology. On Applied Materials, the analysts mentioned that the company will gain from its 3-D device business, systems with multiple processors and substantial government spending on the chip sector. They have given a rating of buy and price target of $175 for Applied Materials...
Applied Materials shares fell Tuesday, after New Street Research downgraded its rating on the semiconductor company's shares. New Street Research analysts lowered their rating on Applied Material stock to neutral from buy. According to the analysts, Applied Materials’ valuation is still very reasonable based on the iShares Semiconductor ETF index. However, they don’t view a near-term catalyst...
Applied Materials reported earnings that exceeded expectations for the fiscal 2021 third quarter, ended Aug. 1. The semiconductor company’s earnings came in at $1.87 per share, well above the $1.74 per share expected by analysts polled by FactSet. It was also up from 91 cents a share in the year-ago quarter. Adjusted profit in the quarter was $1.90, exceeding analysts’ forecast of $1.77...
Applied Materials got bullish views from several analysts, following its fiscal second-quarter earnings beat.
Morgan Stanley analyst Joseph Moore boosted the price target on the semiconductor equipment company’s shares to $139 from $137.Moore maintained an Equal-weight rating on the shares.
Moore noted that tight supply conditions led to better near-term spending conditions, thereby boosting Applied Materials’ performance relative to peers in the quarter.However, even as the company’s guidance implied continued wafer fab equipment, or WFE, growth through 2022, Morgan Stanley sees the growth plateauing ahead in the second half of 2021.
Needham analyst Quinn Bolton reiterated a Buy rating and $153 price target.
What's more, the guidance for the fiscal third quarter is also higher than analysts' forecast.
The company’s net income came in at $1.43 a share, increasing from 82 cents a share in the year-ago period. Analysts polled by FactSet had expected $5.41 billion.
For the third quarter, Applied Materials project adjusted earnings of $1.70 to $1.82 a share on sales of $5.72 billion to $6.12 billion.
Lam Research and Applied Materials shares were rated outperform by a Bernstein analyst who initiated coverage of the semiconductor equipment companies. Analyst Stacy Rasgon has a $700 share price target on Lam Research and $160 price target for Applied Materials. According to Rasgon, the semiconductor capital equipment companies have a “positive long-term structural stance." “Over the last...
Lam Research shares were dropping during extended trading Wednesday, following reports of the company’s lower-than-expected fiscal third quarter revenue.
The semiconductor company’s earnings for the quarter came in at $3.98 per share, in line with analysts’ estimate of $3.98 per share.But revenue of $2.5 billion fell behind analysts’ expectation of $2.58 billion.
Lam Research shares dropped 4.7% to $259 per share after hours.
“Extraordinary efforts by Lam’s global teams helped to mitigate the operational impact of the COVID-19 pandemic, resulting in solid financial performance in the March quarter,” said CEO Tim Archer.
The company had $5.6 billion in cash on hand at the end of March, after it drew down $1.25 billion from its revolving credit facility.
Last month, the company withdrew its third quarter guidance amid COVID-19 pandemic.
Applied Materials got a price-target boost from Stifel research analyst Patrick Ho on expectation of an optimistic outlook for the company's 2020 performance.
Ahead of the semiconductor company’s fourth-quarter results scheduled to release on Thursday, Ho raised his one-year price target on its shares to $67 from $57.The analyst maintained his buy rating on the stock.
According to Ho, large-cap companies like Applied Materials should have higher multiples, when compared with its semiconductor peers.