Why Applied Materials (AMAT) Stock Is Gaining in After-Hours Trading Today

NEW YORK (TheStreet) -- Applied Materials (AMAT) was gaining 0.8% to $21.31 after-hours Thursday after beating analysts’ estimates for earnings in the fiscal third quarter.

For the fiscal third quarter, Applied Materials reported earnings of 28 cents a share, beating the 27 cents a share analysts surveyed by Thomson Reuters estimated. Revenue grew 15% year-over-year to $2.27 billion for the quarter. Analysts expected revenue of $2.29 billion for the quarter.

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TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by a few notable 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 good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

AMAT ChartAMAT data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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