Analysts raise targets on Applied Materials Inc. (AMAT:NSD) on Q3 earnings forecast

amat stock forecast

Applied Materials Inc Stock Forecast:

Based on the forecast of 33 analysts, the average target price for Applied Materials Inc stock over the next 12 months is USD 130.46. The average analyst rating for the company is Strong Buy. However, Stock Target Advisor‘s own analysis of Applied Materials Inc suggests a Neutral stance, considering 8 positive signals and 7 negative signals. The last closing price of Applied Materials Inc stock was USD 129.92. Over the past week, the stock price has increased by +12.52%, over the past month by +16.76%, and over the last year by +16.69%.

Analysts Coverage Change:

  • Citigroup raised the target for a Applied Materials Inc. to $160 from $136.
  • Barclays maintains an “Underweight” rating and raises the target price to $100 from $90.
  • Stifel Nicolaus maintains a “Buy” rating and raises the target priceto$150 from $140.
  • TD Cowen maintains an “Outperform” rating for (AMAT:NSD) and raises the target price to $150 from $145.
  • J.P. Morgan Chase & Co maintains an “Overweight” rating and raises the target price to $145 from $140.
  • Wells Fargo & Company maintains an “Overweight” rating and raises the target price to $150from $135.
  • Mizuho Securities maintains a “Buy” rating and raises the target price to $140 from $136.
  • Needham & Company maintains a “Buy” rating and raises the target price to $140 from $135.

AMAT Ratings by Stock Target Advisor

Applied Materials Inc. News:

Applied Materials Inc, a leading semiconductor manufacturing tools maker, has forecasted third-quarter revenue above market estimates, citing the surge in government funding for chip factories worldwide. The company’s Chief Executive Officer, Gary E. Dickerson, stated that Applied Materials believes approximately $400 billion in government funding is currently supporting the chip industry. This influx of capital has propelled the company’s optimistic outlook.

Applied Materials projects third-quarter revenue of $6.15 billion, with a potential variance of $400 million in either direction. This forecast surpasses analysts’ estimates, which averaged $6.02 billion. In the second quarter, the company reported revenue of $6.63 billion, surpassing estimates of $6.38 billion.

On an adjusted basis, Applied Materials earned $2 per share in the second quarter, outperforming analysts’ projections of $1.84. These robust financial results reflect the company’s strong position in the market and its ability to capitalize on the increased demand for semiconductor manufacturing tools.

The surge in government funding for the chip industry is a result of growing recognition of the critical role semiconductors play in various sectors, including technology, automotive, healthcare, and telecommunications. Governments worldwide are keen to address the global semiconductor shortage, which has impacted numerous industries, including automobile manufacturing and consumer electronics.

 

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