Applied Materials, Inc. (AMAT), a leading supplier of semiconductor equipment, is scheduled to announce its third-quarter earnings after the market closes on Thursday, August 15th. Analysts are expecting a strong performance, with earnings projected to reach $2.02 per share, a significant increase from the $1.81 per share reported in the same period last year. Revenue is anticipated to reach $6.67 billion for the quarter, according to Benzinga Pro data.
The company previously exceeded expectations in its second-quarter results announced on May 16th. AMAT’s stock closed at $201.63 on Wednesday, reflecting a 0.4% increase.
Several analysts have recently weighed in on AMAT’s stock, providing valuable insights into their outlook on the company.
On August 5th, Citigroup analyst Atif Malik maintained a Buy rating but lowered the price target from $250 to $240. Malik’s accuracy rate stands at 82%.
Stifel analyst Brian Chin, on July 15th, maintained a Buy rating and raised the price target from $240 to $275. Chin boasts a 72% accuracy rate.
B. Riley Securities analyst Craig Ellis, on June 20th, maintained a Buy rating and increased the price target from $255 to $300. Ellis has an impressive accuracy rate of 81%.
Wells Fargo analyst Joseph Quatrochi, on June 17th, maintained an Overweight rating and raised the price target from $255 to $280. Quatrochi’s accuracy rate is 79%.
Raymond James analyst Srini Pajjuri, on May 17th, maintained an Outperform rating and boosted the price target from $225 to $235. Pajjuri’s accuracy rate stands at 71%.
These analyst ratings highlight a generally positive sentiment towards AMAT, suggesting potential for future growth and investment opportunities. Investors interested in AMAT should carefully consider these analyst perspectives and conduct their own research before making any investment decisions.
