Vantage Investment Advisors buys $2.9 Million stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Vantage Investment Advisors scooped up 8,158 additional shares in Applied Materials during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 146,052 shares of Applied Materials which is valued at $2.9 Million.Applied Materials makes up approximately 1.26% of Vantage Investment Advisors’s portfolio.

Other Hedge Funds, Including , Clinton Group Inc added AMAT to its portfolio by purchasing 41,201 company shares during the most recent quarter which is valued at $807,952. Applied Materials makes up approx 0.05% of Clinton Group Inc’s portfolio.Cibc World Markets Corp reduced its stake in AMAT by selling 32,458 shares or 32.37% in the most recent quarter. The Hedge Fund company now holds 67,799 shares of AMAT which is valued at $1.3 Million. Applied Materials makes up approx 0.04% of Cibc World Markets Corp’s portfolio. C M Bidwell Associates Ltd added AMAT to its portfolio by purchasing 375,835 company shares during the most recent quarter which is valued at $7.4 Million. Applied Materials makes up approx 1.84% of C M Bidwell Associates Ltd’s portfolio. Mckinley Capital Management Delaware sold out all of its stake in AMAT during the most recent quarter. The investment firm sold 232,052 shares of AMAT which is valued $4.6 Million.Alpha Cubed Investments boosted its stake in AMAT in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 16,224 shares of Applied Materials which is valued at $318,153. Applied Materials makes up approx 0.10% of Alpha Cubed Investments’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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