Needham & Company Lowers Estimates on Applied Materials (AMAT); SEMICON Tone Cautious
Get Alerts AMAT Hot Sheet
Price: $197.50 +0.73%
Rating Summary:
32 Buy, 10 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
32 Buy, 10 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on Applied Materials (NASDAQ: AMAT).
Analyst, Y. Edwin Mok, said, "The commentaries were decidedly mixed at this year’s SEMICON West. Ahead of its Analyst Meeting, AMAT lowered its full year guidance to below prior ranges. Coupled with TEL’s lowering JunQ order and Mattson's (Nasdaq: MTSN) (Hold) pre-announcement, it appears the industry is heading into another downturn. On the other hand, our meetings with a handful of companies, including KLA-Tencor (Nasdaq: KLAC) (N/R), Ultratech (Nasdaq: UTEK) (N/R) and Nova Measuring (Nasdaq: NVMI) (Buy) paint a more encouraging picture. We believe AMAT’s view into C2H12 is overly cautious, as we believe not all of the foundries are pushing out orders for all equipment companies. In aggregate, we believe industry order/revenue outlook for C3Q12 is expected to decline double-digit-%, but business condition in C2H12 will not be as challenging as last year’s."
FY12 EPS estimate lowered from $0.93 to $0.80 and FY13 from $1.14 to $0.96.
For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.
Shares of Applied Materials closed at $10.71 yesterday.
Analyst, Y. Edwin Mok, said, "The commentaries were decidedly mixed at this year’s SEMICON West. Ahead of its Analyst Meeting, AMAT lowered its full year guidance to below prior ranges. Coupled with TEL’s lowering JunQ order and Mattson's (Nasdaq: MTSN) (Hold) pre-announcement, it appears the industry is heading into another downturn. On the other hand, our meetings with a handful of companies, including KLA-Tencor (Nasdaq: KLAC) (N/R), Ultratech (Nasdaq: UTEK) (N/R) and Nova Measuring (Nasdaq: NVMI) (Buy) paint a more encouraging picture. We believe AMAT’s view into C2H12 is overly cautious, as we believe not all of the foundries are pushing out orders for all equipment companies. In aggregate, we believe industry order/revenue outlook for C3Q12 is expected to decline double-digit-%, but business condition in C2H12 will not be as challenging as last year’s."
FY12 EPS estimate lowered from $0.93 to $0.80 and FY13 from $1.14 to $0.96.
For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.
Shares of Applied Materials closed at $10.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amazon.com (AMZN) PT Raised to $215 at UBS
- Meta Platforms Inc. (META) PT Lowered to $575 at UBS, 'shares are offering a 3-to-1 skew'
- First Cash Financial (FCFS) PT Lowered to $140 at TD Cowen
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!