Applied Materials Gets Price Target Bumps By Analysts Following Upbeat Earnings

Applied Materials, Inc. AMAT reported better-than-expected earnings and sales results for its second quarter.

Applied Materials issued earnings of $2.00 per share, which came ahead of the $1.84 Street estimate, on revenues of $6.63 billion, ahead of the $6.38 billion estimate.

The company also said it sees Q3 adjusted earnings of $1.56 to $1.92 per share.

Applied Materials shares fell 1.4% to $128.10 in pre-market trading.

These analysts made changes to their price targets on Applied Materials following earnings announcement.

  • Barclays raised the price target on Applied Materials from $90 to $100. Barclays analyst Raimo Lenschow maintained an Underweight rating.
  • Citigroup lifted the price target on Applied Materials from $136 to $160. Citigroup analyst Atif Malik maintained a Buy rating.
  • Mizuho raised the price target from $136 to $140. Mizuho analyst Vijay Rakesh maintained Applied Materials with a Buy.
  • Needham boosted the price target from $135 to $140. Needham analyst Quinn Bolton maintained the stock with a Buy.
  • JP Morgan raised the price target from $140 to $145. JP Morgan analyst Harlan Sur maintained Applied Materials with an Overweight.
  • Stifel increased the price target from $140 to $150. Stifel analyst Brian Chin maintained Applied Materials with a Buy.
  • Wells Fargo increased the price target from $135 to $150. Wells Fargo analyst Joseph Quatrochi maintained Applied Materials with an Overweight.
  • TD Cowen boosted the price target from $145 to $150. TD Cowen analyst Krish Sankar maintained the stock with an Outperform.
  • Goldman Sachs raised the price target from $120 to $135. Goldman Sachs analyst Toshiya Hari maintained Applied Materials with a Buy.


Read More: Investor Sentiment Improves Further After Nasdaq Jumps 1.5%

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetPre-Market OutlookMarketsAnalyst RatingsTrading IdeasPT Changes
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!