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AMAT Inventory: Applied Materials Top First Quarter Targets


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Semiconductor Equipment Manufacturer Applied materials (AMAT) Its shares saw a dip on Thursday even though the company beat expectations for its fiscal first quarter. AMAT stock fell after it missed estimates with its guidance.


The Santa Clara, California-based company said late Wednesday that it earned $1.89 per share on sales of $6.27 billion in the quarter ended Jan. 30. Wall Street had been expecting earnings of $1.86 per share on sales of $6.19 billion, according to FactSet. On a year-over-year basis, Applied Materials’ earnings increased 36% with sales increasing 21%.

For the current quarter, Applied Materials forecast adjusted earnings of $1.90 per share from sales of $6.35 billion. This depends on the middle of the outlook. Wall Street expected earnings per share of $1.94 on sales of $6.37 billion. Applied Materials blamed “ongoing supply chain challenges” for the soft guidance.

The company’s forecast will translate into 17% annual growth in profits and 14% in sales for the second quarter of the fiscal year.

AMAT stock fell after the report

In the morning trading on stock market todayAMAT stock is down 3% near 136.70. During the regular Wednesday session, AMAT stock rose 0.8% to close at 140.96.

“While the supply environment remains challenging, Applied Materials is doing everything we can to deliver to our customers and we have recorded the highest quarterly revenue ever,” said CEO Gary Dickerson. new version.

He added, “Our outlook for 2022 and beyond is very positive as long-term secular trends push our markets structurally upward and Applied’s broad technology portfolio puts us in an excellent position to capture a larger portion of the markets we serve.”

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AMAT stock ranks 10th out of 31 stocks in IBD’s semiconductor equipment industry group, according to IBD stock check. she has IBD Compound Classification out of 94 out of 99.

The Semiconductor Equipment Group ranks No. 29 out of IBD’s 197 industrial groups. Growing equity investors should focus on the leading stocks in the 40 largest industry groups, based on IBD Trading Guidelines.

Another chip equipment stock was reporting quarterly results late Wednesday Veeco . Tools (Vico). Plainview, based in New York, submitted a win report and raise. But Veeco stock was down 6.2%, near 27.45, in Thursday morning trading.

Follow Patrick Seitz on Twitter at Tweet embed For more stories about consumer technologies, software and semiconductor stocks.

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