Applied Materials (NASDAQ:AMAT) Outlook on Semi Industry Trends

Applied Materials (NASDAQ:AMAT) is looking better than expected on industry trends which are tracking better than thought.

Needham says, "Following our meeting with management at the Needham Growth Conference, we came away incrementally more positive on AMAT. In conjunction with our conference recap note published today, we raise our estimates and price target, reflecting better semi equipment and flat-panel display industry fundamentals and expanding comparable multiples....Improved semi equipment industry trends suggest business is tracking better than expected."

Needham & Company maintains a "Buy" rating on Applied Materials, which was trading at $15.03, up $0.80, or 5.58 percent, as of 12:51 PM EST. Needham raised their price target on Applied from $14 to $16.