UBS Maintains a 'Neutral' on Applied Materials (AMAT); Mixed bag; Looking for a 2H12 Recovery
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Price: $492.32 -0.78%
Rating Summary:
37 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
37 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on Applied Materials (NASDAQ: AMAT) price target lowered from $13 to $12.50.
UBS analyst says, Applied reported Oct-11 quarterly sales and EPS in line with its guidance but total orders of $1.6B (-33% q/q) were lower than our estimate of $2.0B as Energy (solar) orders were only $86M (-73% q/q) and Display only $20M (-91% q/q). We estimate Applied’s Silicon (semicap) orders in the Jan-12 quarter are up 30% q/q to $1.2B (up 10% q/q excluding $100M from Varian acquisition). We estimate Oct-11 was its order bottom as Display and Solar have limited downside now."
"For FY12, Applied’s implied Silicon sales are flat yoy, Services sales are flat yoy, Energy sales down -50% yoy and Display down -15% yoy. Our new FY12 and FY13 EPS are $0.90 and $1.25 versus $1.05 and $1.30 previously."
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.
UBS analyst says, Applied reported Oct-11 quarterly sales and EPS in line with its guidance but total orders of $1.6B (-33% q/q) were lower than our estimate of $2.0B as Energy (solar) orders were only $86M (-73% q/q) and Display only $20M (-91% q/q). We estimate Applied’s Silicon (semicap) orders in the Jan-12 quarter are up 30% q/q to $1.2B (up 10% q/q excluding $100M from Varian acquisition). We estimate Oct-11 was its order bottom as Display and Solar have limited downside now."
"For FY12, Applied’s implied Silicon sales are flat yoy, Services sales are flat yoy, Energy sales down -50% yoy and Display down -15% yoy. Our new FY12 and FY13 EPS are $0.90 and $1.25 versus $1.05 and $1.30 previously."
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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