Kingfisher Capital Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Kingfisher Capital reduced its stake in Applied Materials by 0.74% during the most recent quarter end. The investment management company now holds a total of 104,294 shares of Applied Materials which is valued at $2 Million after selling 782 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on May 13, 2016.Applied Materials makes up approximately 1.28% of Kingfisher Capital’s portfolio.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp boosted its stake in AMAT in the latest quarter, The investment management firm added 263,852 additional shares and now holds a total of 2,495,004 shares of Applied Materials which is valued at $48.9 Million. Applied Materials makes up approx 0.03% of Dimensional Fund Advisors Lp’s portfolio.Signaturefd boosted its stake in AMAT in the latest quarter, The investment management firm added 1,387 additional shares and now holds a total of 1,834 shares of Applied Materials which is valued at $35,965. Applied Materials makes up approx 0.01% of Signaturefd’s portfolio.Gilman Hill Asset Management boosted its stake in AMAT in the latest quarter, The investment management firm added 1,625 additional shares and now holds a total of 15,790 shares of Applied Materials which is valued at $313,747. Applied Materials makes up approx 0.14% of Gilman Hill Asset Management’s portfolio.Tiaa Cref Investment Management boosted its stake in AMAT in the latest quarter, The investment management firm added 1,575,584 additional shares and now holds a total of 8,062,419 shares of Applied Materials which is valued at $160.2 Million. Applied Materials makes up approx 0.12% of Tiaa Cref Investment Management’s portfolio.Russell Frank Co reduced its stake in AMAT by selling 117,437 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 6,472,757 shares of AMAT which is valued at $132.5 Million. Applied Materials makes up approx 0.23% of Russell Frank Co’s portfolio.

Applied Materials opened for trading at $23.79 and hit $23.88 on the upside on Wednesday, eventually ending the session at $23.66, with a gain of 0.72% or 0.17 points. The heightened volatility saw the trading volume jump to 1,47,54,605 shares. Company has a market cap of $26,753 M.

On the company’s financial health, Applied Materials reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 19, 2016. Analyst had a consensus of $0.32. The company had revenue of $2450.00 million for the quarter, compared to analysts expectations of $2428.97 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Applied Materials. Applied Materials was Upgraded by Citigroup to ” Buy” on May 25, 2016. Company shares were Reiterated by Cowen on May 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .Company shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .

Applied Materials Inc. (Applied) provides manufacturing equipment services and software to the global semiconductor flat panel display solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group Applied Global Services Display and Energy and Environmental Solutions. The Silicon Systems Group segment develops manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays organic light-emitting diodes and other display technologies for televisions personal computers tablets smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.

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