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AMAT

Applied Materials

$53.99

-1.18 (-2.14%)

, KLAC

KLA-Tencor

$113.21

-0.49 (-0.43%)

18:03
05/17/18
05/17
18:03
05/17/18
18:03

Applied Materials falls 5% after quarterly report, peers follow lower

Shares of semiconductor equipment-makers are lower, including KLA-Tencor (KLAC), Lam Research (LRCX), Brooks Automation (BRKS), Kulicke & Soffa (KLIC) in after-hours trading after Applied Materials' (AMAT) reported quarterly results. Shares of Applied are down approximately 5% or $2.54 to $51.42.

AMAT

Applied Materials

$53.99

-1.18 (-2.14%)

KLAC

KLA-Tencor

$113.21

-0.49 (-0.43%)

LRCX

Lam Research

$203.35

-3.55 (-1.72%)

BRKS

Brooks Automation

$29.69

0.02 (0.07%)

KLIC

Kulicke & Soffa

$22.82

0.07 (0.31%)

  • 17

    May

  • 30

    May

  • 07

    Jun

AMAT Applied Materials
$53.99

-1.18 (-2.14%)

05/14/18
05/14/18
UPGRADE

Buy
Citi upgrades Lam Research to Buy ahead of strong 2019 equipment spending
As previously reported, Citi analyst Atif Malik upgraded Lam Research (LRCX) to Buy from Neutral, as he believes his concerns about weak NAND memory spending this year are now mostly priced-in and he sees investments planned by Samsung and others leading to higher year-over-year NAND equipment spending growth in 2019. He also assumes strong DRAM equipment spending this year, Malik tells investors. Malik noted that his 2019 wafer fab equipment spending forecast of $61B is above the consensus view of $58B. He still identifies Applied Materials (AMAT) as his number one U.S. semi capital equipment pick, placing KLA-Tencor (KLAC) at number two.
05/14/18
COWN
05/14/18
INITIATION
Target $60
COWN
Market Perform
Applied Materials initiated with a Market Perform at Cowen
Cowen initiated Applied Materials with a Market Perform and $60 price target.
05/15/18
DADA
05/15/18
NO CHANGE
Target $70
DADA
Buy
Applied Materials to post another record quarter, says DA Davidson
DA Davidson analyst Thomas Diffely kept his Buy rating and $70 price target on Applied Materials ahead of its Q2 earnings this week, saying that the "red-hot" memory market should produce another "record quarter and strong outlook" for the company. The analyst adds that emerging industry trends such as AI, autonomous driving, big data, internet of things, and others, are also driving "dramatic increases in semiconductor content across multiple device types", positioning the company positively over then next few years.
05/16/18
NOMU
05/16/18
NO CHANGE
Target $70
NOMU
Buy
Nomura sees 'very attractive opportunity' in shares of Applied Materials
Shares of Applied Materials are up only slightly year-to-date despite a 12% increase in consensus fiscal 2018 earnings estimates, Nomura Instinet analyst Romit Shah tells investors in a research note titled "Don't 'Display' Fear." The analyst believes weakness in the OLED supply chain is creating a "very attractive opportunity" to further accumulate the shares. The analyst keeps a Buy rating on Applied Materials with a $70 price target.
KLAC KLA-Tencor
$113.21

-0.49 (-0.43%)

05/14/18
COWN
05/14/18
INITIATION
Target $140
COWN
Outperform
KLA-Tencor initiated with an Outperform at Cowen
Cowen initiated KLA-Tencor with an Outperform and $140 price target.
04/04/18
UBSW
04/04/18
INITIATION
Target $150
UBSW
Buy
KLA-Tencor initiated with a Buy at UBS
UBS started KLA-Tencor with a Buy rating and $150 price target.
04/05/18
04/05/18
NO CHANGE

UBS starts Semiconductors coverage, says sell Micron, Texas Instruments
UBS analyst Timothy Arcuri started coverage on the U.S. Semiconductors and Semi Equipment sector, expressing the view that consolidation and a slowdown in Moore's Law should actually lead to pricing power and inflationary effects that are still in the early innings. However, he also believes semis are still cyclical and sees some signs of caution moving into later 2018 and 2019. Arcuri, who is cautious on the memory cycle in the near-term, started Micron (MU) with a Sell rating and $35 price target, citing those cyclical memory concerns. He also has one other Sell rating among his 14 recommendations, on Texas Instruments (TXN), citing its fading leverage, a more level playing field for capital return and his cyclical concerns. Among the 14 stocks he initiated, Arcuri has 4 Buy ratings - Intel (INTC), given his above consensus call for datacenter group growth and what he sees as a mispricing of long-term growth potential; Marvell (MRVL) and Broadcom (AVGO), which he views as transformation stories; and KLA-Tencor (KLAC), on its migration to industrial tech and exposure to AI-related compute growth.
LRCX Lam Research
$203.35

-3.55 (-1.72%)

04/26/18
NEED
04/26/18
NO CHANGE
Target $28
NEED
Buy
Ultra Clean price target lowered to $28 from $34 at Needham
Needham analyst Y. Edwin Mok lowered his price target on Ultra Clean Holdings to $28 to reflect the "lower comp multiples" but kept his Buy rating after the company's Q1 earnings beat. Mok notes that the expectations for the quarter were low considering the reduction in shipment outlook by the company's large customer Lam Research (LRCX), but Ultra Clean was able to top the Street's model. The analyst adds that he awaits more signs of growth from its inorganic vector, but sees Ultra Clean executing well in its organic strategy.
05/15/18
COWN
05/15/18
INITIATION
Target $258
COWN
Outperform
Lam Research initiated with an Outperform at Cowen
Cowen analyst Kris Sankar initiated Lam Research with an Outperform rating, citing secular trends like increasing memory content in storage, mobile, and autos. He believes its cash generation will help fuel stock buybacks and potentially an increase in its dividend. Sankar has a $258 price target on Lam Research shares.
05/14/18
SBSH
05/14/18
UPGRADE
SBSH
Buy
Lam Research upgraded to Buy from Neutral at Citi
BRKS Brooks Automation
$29.69

0.02 (0.07%)

12/06/17
JANY
12/06/17
NO CHANGE
Target $35
JANY
Buy
Brooks Automation recent selloff a buying opportunity, says Janney Capital
Janney Capital analyst Paul Knight noted that Brooks Automation shares have fallen to $24 from $35 per share amid the spike downward in the semiconductor space, which he now equates to investors "getting a Semi business...for free" given he has a $24 value estimate for the remainder of Brooks' business and assets. Knight, who sees increasing chances of Brooks splitting into two pure-play companies focused on semiconductors and life sciences, reiterates his Buy rating and $35 fair value estimate on the stock.
02/06/18
JANY
02/06/18
NO CHANGE
Target $40
JANY
Buy
Janney says Brooks selloff driven by disappointment in lack of spinoff news
Janney Capital analyst Paul Knight believes the post-earnings selloff in shares of Brooks Automation is attributable to disappointment from some investors that no Life Science spinoff news was announced. However, he thinks, and he said the company thinks, that it is too early for a spin, though he added that the company did telegraph potential timing and he believes the likelihood of a spinoff will increase as Life Science margins and cash flow increase. Knight, who sees compelling value in Brooks shares, keeps a Buy rating and $40 fair value estimate on the stock.
12/21/17
SPHN
12/21/17
INITIATION
Target $32
SPHN
Overweight
Brooks Automation initiated with an Overweight at Stephens
Stephens analyst Drew Jones initiated Brooks Automation with an Overweight and $32 price target telling investors it is in the early stages of revenue growth and margin expansion in its life sciences sample management business and is a leader in the semiconductor automation equipment side of the business. Jones does not believe the market fully appreciates the new life sciences business and expects a valuation re-set.
01/23/18
JANY
01/23/18
NO CHANGE
Target $35
JANY
Buy
Illumina, ASML offer 'great' signs for Brooks Automation, says Janney Capital
Janney Capital analyst Paul Knight contends that the preannouncement by Illumina (ILMN) and earnings beat from ASML (ASML) offer clear indicators of robust market conditions for Brooks Automation (BRKS), stating what is good for those too is "great" for Brooks. He maintains a Buy rating and $35 fair value estimate on Brooks shares, but added that using a sum-of-the-parts valuation based on peer multiples would yield a fair value estimate of $45-$55 per Brooks share.
KLIC Kulicke & Soffa
$22.82

0.07 (0.31%)

05/14/18
COWN
05/14/18
INITIATION
Target $25
COWN
Market Perform
Kulicke & Soffa initiated with a Market Perform at Cowen
Cowen initiated Kulicke & Soffa with a Neutral and $25 price target.
08/03/17
DADA
08/03/17
NO CHANGE
DADA
Kulicke & Soffa weakness 'unwarranted,' says DA Davidson
DA Davidson analyst Thomas Diffely blames the decline in Kulicke & Soffa's stock on "concerns over a peaking cycle and perhaps acquisition related opex increases." The analyst says that the company has multiple strong positive catalysts while its near-term outlook remains positive. He says that the weakness in the shares was "unwarranted" and he keeps a Buy rating on the name.
11/15/17
DADA
11/15/17
NO CHANGE
Target $35
DADA
Buy
Kulicke & Soffa price target raised to $35 from $25 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on Kulicke & Soffa to $35 and kept his Buy rating following Q4 earnings beat, saying that while shares rose 30% in FY17 the end is "nowhere in sight". Diffely says the company's business should remain "extremely robust" over the next few years amid industry growth as well as the company's targeting of lower-margin LED market and continued growth of aftermarket product and support. The analyst also expects Kulicke & Soffa to see continued benefits from strong Internet of Things, auto, and 3D NAND trends.

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Netflix

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$62.94

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General Motors

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SIR

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$20.53

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