Applied Materials Likely To Report Slight Drop In Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Applied Materials, Inc. AMAT is expected to report its second quarter fiscal 2023 results after the closing bell on May 18, 2023.

Analysts expect the company to post quarterly earnings at $1.84 per share, slightly down from year-ago earnings of $1.85 per share. The company’s revenue might come in at $6.38 billion.

Applied Materials shares gained 4% to close at $125.70 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Needham analyst Quinn Bolton reiterated a Buy rating with a price target of $135 on March 1, 2023. This analyst sees around 7% upside in the company’s stock and has an accuracy rate of 82%.
• Goldman Sachs analyst Toshiya Hari maintained a Buy rating and boosted the price target from $105 to $120 on Feb. 21, 2023. This analyst sees around 5% downside in the company’s stock and has an accuracy rate of 74%.
• Wells Fargo analyst Joseph Quatrochi maintained an Overweight rating and boosted the price target from $130 to $135 on Feb. 17, 2023. This analyst sees around 7% upside in the company’s stock and has an accuracy rate of 78%.
• B. Riley Securities analyst Craig Ellis maintained a Buy rating and raised the prices target from $140 to $150 on Feb. 17, 2023. This analyst sees around 19% upside in the company’s stock and has an accuracy rate of 85%.
• Mizuho analyst Vijay Rakesh maintained a Buy rating and increased the price target from $132 to $136 on Feb. 17, 2023. This analyst sees around 8% upside in the company’s stock and has an accuracy rate of 72%.

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