Nicholas Investment Partners Lp buys $9,733,946 stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Nicholas Investment Partners Lp scooped up 85,540 additional shares in Applied Materials during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 358,129 shares of Applied Materials which is valued at $9,733,946.Applied Materials makes up approximately 0.84% of Nicholas Investment Partners Lp’s portfolio.

Other Hedge Funds, Including , Shamrock Asset Management added AMAT to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $5,436.Rhumbline Advisers reduced its stake in AMAT by selling 60,751 shares or 3.7% in the most recent quarter. The Hedge Fund company now holds 1,580,106 shares of AMAT which is valued at $42,947,281. Applied Materials makes up approx 0.12% of Rhumbline Advisers’s portfolio.Clarivest Asset Management boosted its stake in AMAT in the latest quarter, The investment management firm added 1,730,887 additional shares and now holds a total of 1,730,942 shares of Applied Materials which is valued at $45,506,465. Applied Materials makes up approx 1.29% of Clarivest Asset Management’s portfolio.Msi Financial Services Inc boosted its stake in AMAT in the latest quarter, The investment management firm added 6,168 additional shares and now holds a total of 19,648 shares of Applied Materials which is valued at $528,531. Applied Materials makes up approx 0.02% of Msi Financial Services Inc’s portfolio.Jolley Asset Management reduced its stake in AMAT by selling 1,124 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 181,470 shares of AMAT which is valued at $4,785,364. Applied Materials makes up approx 3.69% of Jolley Asset Management’s portfolio.

Applied Materials opened for trading at $29.92 and hit $30.27 on the upside on Monday, eventually ending the session at $30.05, with a gain of 0.27% or 0.08 points. The heightened volatility saw the trading volume jump to 97,99,140 shares. Company has a market cap of $32,481 M.

On the company’s financial health, Applied Materials reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.48. The company had revenue of $2821.00 million for the quarter, compared to analysts expectations of $2838.86 million. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Applied Materials. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .Company shares were Reiterated by Cowen on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 32.50 from a previous price target of $26 .Company shares were Reiterated by Stifel on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $28 .

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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