D.A. Davidson Expects Solid F4Q Earnings Results for Applied Materials

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

. In the report, D.A. Davidson noted, “We forecast AMAT to post October quarter revenue and EPS at or slightly above our estimates of $2.275 billion and $0.26, respectively. Total revenue was likely flat sequentially as a modest decline in the core semiconductor business (low-to-mid single digit) was partially offset by growth in the lumpy flat panel display segment. While industry fundamentals point towards a flat quarter, our view of potential upside comes from the fact that the company typically outperforms during this period due to end of year sales pushes during the last fiscal quarter.” Applied Materials closed on Friday at $22.43.