Applied Materials Announces Third Quarter 2024 Results

Applied Materials (AMAT) PT Raised to $224 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Applied Materials (NASDAQ: AMAT) to $224.00 (from $223.00) while maintaining a Equalweight rating.

The analyst comments "Thoughts on the stock: the way that the quarter played out significantly reduces near term risks around export... More

Goldman Sachs Reiterates Buy Rating on Applied Materials (AMAT)

Goldman Sachs analyst Toshiya Hari reiterated a Buy rating and $240.00 price target on Applied Materials (NASDAQ: AMAT).

The analyst comments "Applied Materials delivered a modest FY3Q (July) beat and guided to growth in FY4Q (October) supported by sequential strength in leading-edge... More

Applied Materials (AMAT) PT Raised to $250 at Bernstein SocGen Group

Bernstein SocGen Group analyst Stacy Rasgon raised the price target on Applied Materials (NASDAQ: AMAT) to $250.00 (from $240.00) while maintaining a Outperform rating.

The analyst comments "AMAT' s FQ3 results were solid ($6,778M/ $2.12 vs Street $6,677M/$2.03) with strength in leading-logic, ICAPS and HBM, with China revenues declining sequentially as expected following the fulfillment of the DRAM backlog in that region. Systems sales were above expectations with Services and Display revenues roughly in-line. FQ4 guidance was roughly in-line expectations ($6,930M /$2.18 vs... More

Applied Materials (AMAT) PT Lowered to $230 at Deutsche Bank

Deutsche Bank analyst Melissa Weathers lowered the price target on Applied Materials (NASDAQ: AMAT) to $230.00 (from $260.00) while maintaining a Hold rating.

The analyst comments "AMAT delivered what we view to be a fine report and guide, with little variance directionally vs. our expectations... More

Evercore ISI Reiterates Outperform Rating on Applied Materials (AMAT)

Evercore ISI analyst Mark Lipacis reiterated an Outperform rating and $260.00 price target on Applied Materials (NASDAQ: AMAT)

The analyst comments "OctQ Beat. OctQ-24 Revs guidance of $6.93bn at midpoint is-inline with consensus and implies 2.2% QQ/3% YY. GM outlook of 47.4% is 40bps higher... More

Citi Reiterates Buy Rating on Applied Materials (AMAT)

Citi analyst Atif Malik reiterated a Buy rating and $240.00 price target on Applied Materials (NASDAQ: AMAT).

The analyst comments "AMAT stock was down 3% after reporting a July-Q beat and guiding Oct-Q EPS slightly above Street. AMAT continues to see strong AI-driven demand, and... More

Applied Materials (AMAT) Tops Q3 EPS by 9c, Offers Guidance

Applied Materials (NASDAQ: AMAT) reported Q3 EPS of $2.12, $0.09 better than the analyst estimate of $2.03. Revenue for the quarter came in at $6.78 billion versus the consensus estimate of $6.68 billion.

GUIDANCE:

Applied Materials sees Q4 2024 EPS of $2.00-$2.36, versus the consensus of $2.14.... More