Grassi Investment Management Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Grassi Investment Management reduced its stake in Applied Materials by 2.02% during the most recent quarter end. The investment management company now holds a total of 392,600 shares of Applied Materials which is valued at $8,429,122 after selling 8,100 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Applied Materials makes up approximately 1.65% of Grassi Investment Management’s portfolio.

Applied Materials closed down -0.01 points or -0.05% at $21.47 with 1,23,49,887 shares getting traded on Friday. Post opening the session at $21.47, the shares hit an intraday low of $21.29 and an intraday high of $21.505 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Dnb Asset Management As boosted its stake in AMAT in the latest quarter, The investment management firm added 32,100 additional shares and now holds a total of 232,705 shares of Applied Materials which is valued at $4,996,176. Applied Materials makes up approx 0.10% of Dnb Asset Management As’s portfolio. Eagle Asset Management Inc sold out all of its stake in AMAT during the most recent quarter. The investment firm sold 4,842,276 shares of AMAT which is valued $101,397,259. Pensionfund Sabic sold out all of its stake in AMAT during the most recent quarter. The investment firm sold 93,100 shares of AMAT which is valued $1,949,514.

On the company’s financial health, Applied Materials reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.25. The company had revenue of $2257.00 million for the quarter, compared to analysts expectations of $2243.06 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Applied Materials. Company shares were Upgraded by UBS on Apr 14, 2016 to ” Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .Applied Materials was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016. Applied Materials was Upgraded by Exane BNP Paribas to ” Outperform” on Mar 31, 2016.

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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