Piper Jaffray reiterated its Overweight rating on Applied Materials AMAT and lowered its price target from $15 to $13.
Piper Jaffray said, "We believe silicon system orders may have likely declined another 30% q/q in Oct'12 quarter to $816m after a 41% decline
in July'12 quarter given pushouts by foundries and NAND customers. We expect AMAT's Oct '12 revenues and EPS to be inline with the guidance. Although the Oct'12 quarter may very well mark the near term trough for its core Silicon system orders, we remain cautious about a meaningful recovery in this segment until 2HCY13 as Samsung spending remains likely weak in 1H'13."
Applied Materials closed at $10.48 on Tuesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in