Semiconductor machinery manufacturer Applied Materials (NASDAQ: AMAT) will be reporting earnings this Thursday after market hours. Here’s what to expect.

Applied Materials beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $7.30 billion, up 7.7% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations significantly.

Is Applied Materials a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Applied Materials’s revenue to decline 5.6% year on year to $6.65 billion, a reversal from the 4.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.10 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Applied Materials has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.4% on average.

Looking at Applied Materials’s peers in the semiconductor manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teradyne delivered year-on-year revenue growth of 4.3%, beating analysts’ expectations by 3.3%, and FormFactor reported a revenue decline of 2.5%, topping estimates by 1.3%. Teradyne traded up 20.6% following the results while FormFactor was also up 24.3%.

Read our full analysis of Teradyne’s results here and FormFactor’s results here.

Investors in the semiconductor manufacturing segment have had steady hands going into earnings, with share prices up 2% on average over the last month. Applied Materials is up 4.4% during the same time and is heading into earnings with an average analyst price target of $221.84 (compared to the current share price of $229.20).

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