Applied Materials, Inc.NASDAQ
Thu, Sep. 22, 11:03 AM
- Applied Materials (AMAT -0.6%) raised its FY 2019 EPS model estimates citing multiple inflection points amid analyst day events it held yesterday.
- Goldman Sachs (analysts Toshiya Hari, Charles Long and Alex Karpos) post-event: "The company's new FY19 EPS base case of $2.80 compares to our CY18 estimate of $2.71, with the caveat of management's historically conservative approach to longer term expectations (already earning close to the FY18 model from the 2015 event). AMAT also outlined expectations for 2017 WFE to increase 3 percent (from $32.6 billion in CY16 to $33.5 billion in CY17), with growth expected across all segments – foundry/logic, NAND and DRAM."
- Firm confident long-term as it maintains Conviction Buy rating and $33 target (current price $30.38).
Wed, Sep. 21, 3:53 PM
- Targets FY 2019 EPS of $2.45-$3.17 (17% compound earnings growth over next three years) and expects higher wafer fab equipment spending due to 3D NAND, 10 and 7 nanometer logic and foundry, materials-based patterning and China factory investment inflections.
- Further forecasts 50% display business growth ($1.8B) by that same time period.
- Applied Materials (AMAT +0.6%) President and CEO Gary Dickerson: "Our innovation leadership strategy, combined with the breadth and depth of our materials engineering capabilities, puts Applied in a unique position to sustainably outperform our markets. Over the past few years, we strengthened our organization and processes while increasing investment in R&D, so that today we see opportunities earlier, develop winning products faster and are delivering increased value for customers and shareholders."
- Analyst day presentations
Thu, Sep. 8, 4:24 PM
Tue, Aug. 23, 3:04 PM
- Argus Research analyst Jim Kelleher maintains a Buy rating on Applied Materials (AMAT +3%) and raises his price target by $5 to $34 (current price $30.05). He joins a group of analysts with similar outlooks on the company since it posted strong Q3 results and projected an even better Q4 last week.
- Further notes: "We believe the company's ability to address significant technology transformations bode well for AMAT going forward. Simultaneously, AMAT's increasingly efficient operations are helping it to expand margins and boost profits in a tight top-line environment."
- Applied Materials is up more than 8% since last Thursday's close.
Tue, Aug. 23, 7:38 AM
Fri, Aug. 19, 1:21 PM
- Applied Materials (AMAT +6.7%) yesterday registered a solid Q3 and guided for a strong Q4. Analyst sentiment remains positive with Goldman Sachs, Morgan Stanley, UBS, Nomura Securities, Credit Suisse and B. Riley & Co. restating Buy and Overweight ratings and issuing price targets ranging from $30 to $39 (current price $29.55). S&P Capital IQ maintains a Hold rating and raises to a $31 target.
- An all-time high in new orders ($3.66B), expanding OLED adoption and NAND investments are broadly cited as catalysts among the notes.
Fri, Aug. 19, 11:43 AM
- The chip sector is hot but no name is hotter than Advanced Micro Devices (AMD +10.9%). The company has been gradually rising since last August and has really hit its stride since returning to Y/Y revenue growth for the first time since 2014 in Q2.
- The only company remotely in the ballpark of this type of growth is Nvidia (NVDA +0.4%) with a now 170% increase over the last year.
- Comparably, Intel Corporation (INTC +0.5%) is up slightly over 23%, Micron Technology (MU +3.7%) around 2%, Applied Materials (AMAT +6.7%) nearly 80%, Analog Devices (ADI +0.4%) around 10%, ARM Holdings (ARMH -0.8%) around 56%, Linear Technology (LLTC +0.1%) around 46%, NXP Semiconductors (NXPI +1.2%) around 2%, Marvell Technology (MRVL +3.9%) slightly over 1%, Qualcomm (QCOM -0.4%) around 2.5%, Broadcom (AVGO +0.5%) around 26% and Texas Instruments (TXN +0.3%) around 43% for the same period.
- Advanced Micro Devices shares continues to increase following this week's operational-reveal of the company's highly anticipated Zen-core processors.
Fri, Aug. 19, 9:14 AM
Thu, Aug. 18, 5:35 PM
Thu, Aug. 18, 4:16 PM
- Applied Materials (NASDAQ:AMAT) delivered record EPS of $0.50 and all-time highs in new orders ($3.66B) and backlog ($4.95B).
- President and CEO Gary Dickerson: "With earnings and orders at an all-time high, Applied is performing better than ever and in a great position to sustainably outperform our markets. We are in the early stages of large, multi-year industry inflections that are driving our business today and creating new opportunities for future growth."
- Projects Q4 net sales to grow 15%-10% sequentially and adjusted diluted EPS of $0.61-$0.69.
- Conference call
- Press release
Thu, Aug. 18, 4:02 PM
Thu, Jul. 7, 11:05 AM
- A boost in guidance from Western Digital (WDC +4.1%) is helping to lift some other chip stocks.
- The strong read-through on NAND chip sales have stoked some buying action on Micron (MU +5.1%), Seagate Technology (STX +1.7%), and Applied Materials (AMAT +1.2%) on optimism that NAND pricing will hold up in the second half of the year.
- Previously: Western Digital higher after hours on lift in guidance; CFO to exit (July 6)
Tue, Jun. 28, 8:39 AM
- Applied Materials (NASDAQ:AMAT) +3.1% premarket after Susquehanna upgraded the stock from Negative to Neutral.
- AMAT shares have risen 20% since the beginning of the year.
Thu, Jun. 23, 10:07 AM
- Applied Materials (NASDAQ:AMAT) is up 1.3% after Nomura raised its price target following an investor meeting with the company's CFO and display chief.
- The firm's Romit Shah maintained a Buy rating and raised his price target on shares to $28 from $25, implying 15% upside.
- Nomura met with CFO Bob Halliday and displays exec Briah Shih, and said Halliday struck a "very positive tone, alluding that Applied is firing on all cylinders." The company's long-term EPS target of $2 for 2018 looked conservative, Halliday suggested.
- Etch -- the fastest growing segment in the company's Silicon Systems Group -- is driving growth in 3D NAND, and Foundry spending is set for a recovery later this year, Shah says.
- Shah ranks No. 336 out of 3,980 analysts at TipRanks.
Fri, Jun. 17, 2:09 PM
- Japan's Nikkei reports Samsung (OTC:SSNLF, OTC:SSNNF) plans to spend KRW8T ($6.82B) in 2016 to increase its smartphone OLED panel capacity by over 50%, or more than 200M/year. Samsung is believed to already have the capacity to produce 300M+ smartphone OLED panels per year.
- The report follows ones indicating Apple (NASDAQ:AAPL) plans to launch iPhones featuring OLEDs in 2017, with some of the reports stating Samsung and LG Display (LPL -0.3%) will be among the suppliers. A Korean news service reported in April Samsung will supply 100M 5.5" OLEDs annually to Apple starting next year. The Nikkei suggests Apple will partly rely on OLEDs for its 2017 iPhone lineup.
- OLED materials/IP provider Universal Display (OLED +0.3%) has moved slightly higher following the report. Industrial laser maker Coherent (COHR -0.4%) also stands to benefit from major OLED investments, as does chip equipment giant Applied Materials (AMAT -1%).
Thu, Jun. 9, 4:42 PM
- Applied Materials (NASDAQ:AMAT) has used up the $3B buyback authorization it launched in April 2015, and has created a new $2B authorization to replace it. The new authorization is good for repurchasing over 7% of shares at current levels.
- The chip equipment giant has also declared its regular $0.10/share quarterly dividend (1.6% yield). The next dividend is payable on Sep. 15 to shareholders on record as of Aug. 25.
- AMAT +1.5% after hours to $24.79.