B.Riley FBR Sticks to Its Hold Rating for Applied Materials Inc (AMAT)

In a report released today, Craig Ellis from B.Riley FBR maintained a Hold rating on Applied Materials Inc (AMAT), with a price target of $46. The company’s shares closed on Friday at $40.80.

Ellis said:

“Semi Cap bellwether Applied Materials (AMAT) reports F2Q19 5/16 AMC with a 4:30PM ET CC. We project moderate F2Q upside and an in-line guide versus the Street. On FY20 matters, we see both positives and negatives. First, we’re more constructive on NAND’s 2020 upside capacity spending potential 2QTD. Second, on current estimates SBB could outstrip our model by 2x, enhancing EPS leverage. Alternatively, it’s unclear when Display’s smartphone sub-segment can return to growth following estimated CY19 Y/Y declines of -54% (overall segment -34% Y/Y), though FY20 Y/Y gains seem possible. In sum, we see potential for a $0.25 boost to a multi-quarter basis but, in the near term, we seek insights on Semi’s Foundry spending recovery and timing for a re-acceleration in capacity-dependent Services sales (~50% of segment).”

According to TipRanks.com, Ellis is a 5-star analyst with an average return of 15.6% and a 60.5% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Rudolph Technologies, and Skyworks Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Materials Inc with a $49.43 average price target.

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Applied Materials Inc’s market cap is currently $38.74B and has a P/E ratio of 10.33. The company has a Price to Book ratio of 4.72.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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Applied Materials, Inc. engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets.

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