Applied Materials (AMAT) has received two price target increases in two days, as analysts expect the company will benefit from its pending merger with Tokyo Electron and from underlying trends in wafer-fabrication equipment spending. Stifel Nicolaus increased its target price to 29 from 25 and reiterated a buy rating in a research report on Tuesday. Deutsche Bank on Monday upgraded the stock to buy from hold and increased its target price to 30
Applied Materials late Thursday reported a 42% increase in fiscal Q4 earnings in line with Wall Street views, but its outlook for Q1 fell shy of expectations. For its current fiscal quarter, the Santa Clara, Calif.-based company expects revenue growth from its fiscal fourth quarter, which ended Oct. 26, to range from flat to up 5% at $2.26 billion-$2.38 billion, the midpoint of which is about $2.32 billion. Applied Materials (AMAT), which
Applied Materials (AMAT) CEO Gary Dickerson says recent shifts in semiconductor technology are playing to the chip equipment maker’s strengths, which should boost revenue 10% to 17% in the current quarter after a nearly 15% increase in fiscal Q3. Rising display and semiconductor demand is driving growth, and evolving trends in mobility and connectivity are accelerating innovation in mobile chips, he said. Applied Materials was up nearly 5%, near