Applied Materials Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Applied Materials, Inc. AMAT is expected to release earnings results for its third quarter, after the closing bell on Thursday, Aug. 15.

Analysts expect the Santa Clara, California-based company to report quarterly earnings at $2.02 per share, up from $1.81 per share in the year-ago period. Applied Materials is projected to report quarterly revenue of $6.67 billion, according to data from Benzinga Pro.

On May 16, Applied Materials reported better-than-expected financial results for the second quarter.

Applied Materials shares gained 0.4% to close at $201.63 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.

• Citigroup analyst Atif Malik maintained a Buy rating and cut the price target from $250 to $240 on Aug. 5. This analyst has an accuracy rate of 82%.
• Stifel analyst Brian Chin maintained a Buy rating and raised the price target from $240 to $275 on July 15. This analyst has an accuracy rate of 72%.
• B. Riley Securities analyst Craig Ellis maintained a Buy rating and boosted the price target from $255 to $300 on June 20. This analyst has an accuracy rate of 81%.
• Wells Fargo analyst Joseph Quatrochi maintained an Overweight rating and raised the price target from $255 to $280 on June 17. This analyst has an accuracy rate of 79%.
• Raymond James analyst Srini Pajjuri maintained an Outperform rating and increased the price target from $225 to $235 on May 17. This analyst has an accuracy rate of 71%.

Considering buying AMAT stock? Here’s what analysts think:

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