Needham & Company Maintains a 'Buy' on Applied Materials (AMAT); Management Calling the January Quarter the Bottom
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Price: $514.33 -3.92%
Rating Summary:
37 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
37 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Needham & Company maintains a 'Buy' on Applied Materials (NASDAQ: AMAT) price target of $14.00.
Needham analyst says, "AMAT reported slightly better F4Q11 (Oct) results but provided weak guidance. However, based on a rebound of Silicon revenue/orders and the bottoming of Display orders, management sounded optimistic that the January quarter will be the cycle bottom for revenue. While the report was disappointing, we believe longer-term investors should buy the stock on the cyclical recovery in both Silicon and Display, and AMAT’s strengthened position after completion of the Varian acquisition."
"Based on weakened outlook, we lower our FY12 non-GAAP EPS to $0.81 and initiate FY13 of $1.13. Our PT remains at $14, or a 15X our CY2012 non-GAAP EPS of $0.92."
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 $12.47 yesterday.
Needham analyst says, "AMAT reported slightly better F4Q11 (Oct) results but provided weak guidance. However, based on a rebound of Silicon revenue/orders and the bottoming of Display orders, management sounded optimistic that the January quarter will be the cycle bottom for revenue. While the report was disappointing, we believe longer-term investors should buy the stock on the cyclical recovery in both Silicon and Display, and AMAT’s strengthened position after completion of the Varian acquisition."
"Based on weakened outlook, we lower our FY12 non-GAAP EPS to $0.81 and initiate FY13 of $1.13. Our PT remains at $14, or a 15X our CY2012 non-GAAP EPS of $0.92."
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 $12.47 yesterday.
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