Mizuho lowered the firm’s price target on Applied Materials (AMAT) to $200 from $220 and keeps an Outperform rating on the shares. The company reported an in-line July quarter but guided to a softer than expected October quarter on China and leading edge ramp weakness, the analyst tells investors in a research note. The firm is disappointed with the results but says Applied Materials remains the top global semiconductor capital equipment supplier.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAT:
- Hold Rating for Applied Materials Amid Chinese Market Challenges and Uncertain AI Demand
- Applied Materials downgraded to Neutral at BofA on company specific headwinds
- Applied Materials downgraded to Neutral from Buy at BofA
- Applied Materials should be bought on selloff, says Evercore ISI
- Applied Materials price target lowered to $200 from $230 at Wolfe Research