Applied Materials

By Callum Keown Applied Materials (Nasdaq: AMAT) ‘ earnings beat and upbeat outlook gave Wall Street cause to believe that the chip equipment maker’s strong rally can keep going. The shares, which surged 12% to $210.50 ahead of the open Friday, enjoyed a flurry of price target hikes from analysts Friday. Wall Street is bullish on the stock, with 65% of analysts rating it Buy, according to FactSet data. Applied’s CEO Gary Dickerson said the company was positioned at key inflection points in the chip industry and was set to continue to outperform “as customers ramp up next-generation chip technologies” critical to artificial intelligence, in the earnings release. J.P.Morgan analyst Harlan Sur appeared to agree with that assessment as he raised his price target to $230 from $170 and maintained an Overweight rating. He said Applied was well-positioned to benefit from “multiple technology inflections that should drive outperformance” over the […]

Mizuho analyst Vijay Rakesh maintains Applied Materials, Inc. (Nasdaq: AMAT) with a Buy and raises the price target from $185 to $225.

Applied Materials Sees 2Q Adj EPS $1.79-Adj EPS $2.15.

Applied Materials Announces First Quarter 2024 Results — Revenue $6.71 billion, flat year over year — GAAP operating margin 29.3 percent and non-GAAP operating margin 29.5 percent, up 0.1 points and flat year over year, respectively — GAAP EPS $2.41 and non-GAAP EPS $2.13, up 19 percent and 5 percent year over year, respectively — Generated $2.33 billion in cash from operations SANTA CLARA, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) — Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its first quarter ended Jan. 28, 2024. First Quarter Results Applied generated revenue of $6.71 billion. On a GAAP basis, the company reported gross margin of 47.8 percent, operating income of $1.97 billion or 29.3 percent of net revenue, and earnings per share (EPS) of $2.41. On a non-GAAP basis, the company reported gross margin of 47.9 percent, operating income of $1.98 billion or 29.5 percent of net revenue, and

Applied Materials, Inc. (Nasdaq: AMAT) reported quarterly earnings of $2.13 per share which beat the analyst consensus estimate of $1.91 by 11.52 percent. The company reported quarterly sales of $6.71 billion which beat the analyst consensus estimate of $6.48 billion by 3.55 percent. This is a 0.47 percent decrease over sales of $6.74 billion the same period last year.

Applied Materials, Inc. (Nasdaq: AMAT) Guides For Q2 EPS of $1.79-$2.15 on Revenue of $6.1-$6.9 Billion, Vs CIQ Analyst Consensus of $1.78/Share on Revenue of $6.3 Billion.

Applied Materials, Inc. (Nasdaq: AMAT) reported fiscal Q1 non-GAAP earnings late Thursday of $2.13 per diluted share, up from $2.03 a year earlier. Analysts polled by Capital IQ expected $1.91. Revenue in the quarter ended Jan. 28 fell to $6.71 billion from $6.74 billion a year earlier. Analysts surveyed by Capital IQ expected $6.49 billion. In Q2, the company said it expects non-GAAP diluted EPS of $1.79 to $2.15 on revenue of $6.5 billion, plus or minus $400 million. Analysts in a Capital IQ poll expect EPS of $1.78 on revenue of $6.33 billion. Applied Materials shares climbed 10% in recent after-hours trading.

By Emily Bary CEO expects ‘continued outperformance as customers ramp next-generation chip technologies critical to AI’ and the Internet of Things Applied Materials Inc. delivered upbeat results and guidance Thursday afternoon, and its stock was surging in the extended session. The chip-equipment company logged fiscal-first quarter net income of $2.02 billion, or $2.41 a share, compared with $1.72 billion, or $2.02 a share, in the year-prior quarter. On an adjusted basis, Applied Materials (AMAT) earned $2.13 a share, up from $2.03 a share a year before, while analysts tracked by FactSet were modeling $1.90 a share. Net revenue inched lower to $6.71 billion from $6.74 billion, but came in above consensus forecasts, which were for $6.48 billion. The stock was up nearly 10% in after-hours action Thursday. Read: Super Micro’s stock has surged 900% in a year. Why BofA is making a ‘buy’ call. “Our leadership positions at key semiconductor

The following is a summary of the Applied Materials, Inc. (AMAT) Q1 2024 Earnings Call Transcript: Financial Performance: Applied Materials reported Q1 2024 revenues at the high end of their guided range, marking a strong start. Non-GAAP gross margin saw growth, landing at 47.9%, a 110 basis point increase from last year. Non-GAAP net profit per share for Q1 grew by almost 5%, reaching $2.13. Semiconductor Systems revenues were robust at $4.91 billion, while Applied Global Services saw an approximate 8% YoY gain, reaching nearly $1.8 billion. Display segment reported revenues of $244 million with a non-GAAP operating profit of 10.2%. For Q2, the company expects a non-GAAP EPS of $1.97, ± $0.18, with revenues forecasted to be $6.5 billion ± $400 million. Business Progress: The company is capitalizing on key industry inflections, particularly in AI, IoT, electric vehicles, and renewable energy. Its focus on DRAM technologies like High-Bandwidth Memory

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our price target by $76 to $233, 27.5x our CY 24 EPS estimate of $8.46, near peers but above Applied Materials, Inc. (Nasdaq: AMAT)’s 3-year historical average (~17x) given its leading position across multiple technology inflections and AI enthusiasm. We raise our ’24 EPS view to $8.38 from $7.76 and ’25’s to $9.22 from $8.62. AMAT posts Dec-Q sales of $6.7B (flat Y/Y) and EPS of $2.13 (+5%), both above consensus. We see AMAT’s broad product portfolio as among the best positioned in the semi space going into ’24, where we see rebounds across both foundry/logic and memory as new fabs continue to ramp (and gate-all-around technology accelerates) and AI applications continue to fuel advanced DRAM demand. We also see upside in NAND as layer

Applied Materials, Inc. (Nasdaq: AMAT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 9.48% Raymond James $160 → $180 Maintains Outperform 01/16/2024 -14.85% Barclays $120 → $140 Maintains Underweight 12/12/2023 12.52% TD Cowen $165 → $185 Maintains Outperform 11/22/2023 6.44% Redburn Atlantic → $175 Upgrades Neutral → Buy 11/17/2023 1.58% Mizuho $162 → $167 Maintains Buy 11/17/2023 3.4% JP Morgan $165 → $170 Maintains Overweight 11/17/2023 -13.63% Morgan Stanley $139 → $142 Maintains Equal-Weight 11/17/2023 9.48% Needham → $180 Reiterates Buy → Buy 10/13/2023 9.48% Needham → $180 Upgrades Hold → Buy 10/05/2023 -8.76% UBS $130 → $150 Maintains Neutral 09/15/2023 -3.9% Mizuho → $158 Reiterates Buy → Buy 09/15/2023 12.52% Wolfe Research → $185 Initiates Coverage On → Outperform 08/21/2023 6.44% Berenberg $150 → $175 Maintains Buy 08/21/2023 -22.15% Susquehanna $112 → $128 Maintains Neutral 08/21/2023 -5.72% Goldman Sachs $135

Raymond James analyst Srini Pajjuri maintains Applied Materials (NASDAQ:AMAT) with a Outperform and raises the price target from $160 to $180.