D.A. Davidson & Co. Expects F4Q Relative Outperformance from Applied Materials

In a report published Friday, D.A. Davidson & Co. analyst Thomas Diffely reiterated a Buy rating and $27.00 price target on

. In the report, D.A. Davidson & Co. noted, “AMAT is scheduled to report F3Q (Jul) earnings on Thursday, August 14th, after the market close, with a conference call to follow at 1:30pm PT/4:30pm ET. We expect results to meet or slightly exceed our consensus-matching revenue and EPS estimates of $2,275 million (down 3% q/q) and $0.26 per share, respectively. Relative strength in Foundry and DRAM was likely offset by NAND and Logic. Service and solar were likely up, offsetting a decline in the lumpy Display segment.” Applied Materials closed on Thursday at $20.69.