C M Bidwell Associates Ltd adds Applied Materials (AMAT) to its portfolio

Applied Materials (AMAT) : C M Bidwell Associates Ltd added new position in Applied Materials during the most recent quarter end. The investment management firm now holds 375,835 shares of Applied Materials which is valued at $7.4 Million , the company said in a statement filed on May 11, 2016 with the SEC.Applied Materials makes up approximately 1.84% of C M Bidwell Associates Ltd’s portfolio.

Other Hedge Funds, Including , Focused Wealth Management Inc sold out all of its stake in AMAT during the most recent quarter. The investment firm sold 60 shares of AMAT which is valued $1,177. Trimtabs Asset Management added AMAT to its portfolio by purchasing 78,000 company shares during the most recent quarter which is valued at $1.5 Million. Applied Materials makes up approx 0.91% of Trimtabs Asset Management’s portfolio. K.j. Harrison Partners Inc sold out all of its stake in AMAT during the most recent quarter. The investment firm sold 80,000 shares of AMAT which is valued $1.6 Million.

Applied Materials opened for trading at $19.54 and hit $19.98 on the upside on Monday, eventually ending the session at $19.85, with a gain of 1.22% or 0.24 points. The heightened volatility saw the trading volume jump to 77,95,882 shares. Company has a market cap of $22,445 M.

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. Applied Materials was Downgraded by Susquehanna to ” Negative” on Apr 19, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 22 from a previous price target of $21 .Company shares were Reiterated by Deutsche Bank on Apr 18, 2016 to “Buy”, 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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