By market close, shares had added 5.5% to $18.89. Trading volume of 28.8 million was more than double its three-month daily average of 11.5 million.
In the current quarter ending April, the semiconductor-equipment maker expects sales to increase 3% to 10% sequentially, suggesting revenue in the range of $2.25 billion to $2.4 billion. Per-share earnings are expected between 25 cents and 29 cents.
Analysts surveyed by Thomson Reuters anticipate second-quarter revenue of $2.35 billion and earnings of 28 cents a share.In its first quarter, the Santa Clara, Calif.-based business recorded net income of 23 cents a share, a penny higher than consensus. Revenue of $2.19 billion came in 39.5% higher than the year-ago quarter and exceeded expectations by around $57 million. TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B. The team has this to say about their recommendation: "We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: AMAT Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV