Calamos Advisors Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Calamos Advisors reduced its stake in Applied Materials by 34.34% during the most recent quarter end. The investment management company now holds a total of 2,044,892 shares of Applied Materials which is valued at $55,007,595 after selling 1,069,523 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Applied Materials makes up approximately 0.50% of Calamos Advisors’s portfolio.

Other Hedge Funds, Including , Patriot Wealth Management boosted its stake in AMAT in the latest quarter, The investment management firm added 5,850 additional shares and now holds a total of 280,858 shares of Applied Materials which is valued at $7,555,080. Applied Materials makes up approx 1.45% of Patriot Wealth Management’s portfolio.Ibm Retirement Fund reduced its stake in AMAT by selling 5,451 shares or 3.66% in the most recent quarter. The Hedge Fund company now holds 143,601 shares of AMAT which is valued at $3,786,758. Applied Materials makes up approx 0.14% of Ibm Retirement Fund’s portfolio.Mazama Capital Management Inc boosted its stake in AMAT in the latest quarter, The investment management firm added 14,767 additional shares and now holds a total of 77,598 shares of Applied Materials which is valued at $1,934,518. Applied Materials makes up approx 0.38% of Mazama Capital Management Inc’s portfolio.

Applied Materials closed down -0.33 points or -1.24% at $26.29 with 88,05,576 shares getting traded on Friday. Post opening the session at $26.58, the shares hit an intraday low of $26.16 and an intraday high of $26.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Investors should note that on Jun 9, 2016, Applied Materials announced a cash dividend of $0.1000. The company’s management has announced Aug 23, 2016 as the ex-dividend date and fixed the record date on Aug 25, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Applied Materials. Company shares were Reiterated by Needham on Jul 12, 2016 to “Buy”, Firm has raised the Price Target to $ 29 from a previous price target of $26 .Applied Materials was Upgraded by Susquehanna to ” Neutral” on Jun 28, 2016. Company shares were Upgraded by DA Davidson on Jun 27, 2016 to ” Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $24 .

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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