Key Takeaways

Applied Materials ( AMAT ) is slated to report fiscal fourth-quarter earnings after the market closes on Thursday, with analysts leaning bullish ahead of the results.

Of the 15 analysts covering the stock tracked by Visible Alpha, nine have issued “buy” or equivalent ratings, compared to six “hold” ratings. The consensus price target is $226.79, an over 21% premium on Tuesday's closing price of $186.58.

Wall Street expects the semiconductor equipment maker to report revenue of $6.96 billion, up more than 3% year-over-year, and net income of $1.78 billion or $21.4 per share, down from $ 2 billion or $2.38 per share a year earlier.

A quarter ago, Applied Materials delivered record-high sales of $6.78 billion, fueled by the artificial intelligence (AI) boom.

Shares of Applied Materials edged 1% lower Tuesday. They've added more than 15% since the start of the year.