Shelton Capital Management Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Shelton Capital Management reduced its stake in Applied Materials by 3.88% during the most recent quarter end. The investment management company now holds a total of 134,020 shares of Applied Materials which is valued at $3,511,324 after selling 5,416 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Applied Materials makes up approximately 0.31% of Shelton Capital Management’s portfolio.

Other Hedge Funds, Including , Trimtabs Asset Management reduced its stake in AMAT by selling 8,112 shares or 10.4% in the most recent quarter. The Hedge Fund company now holds 69,888 shares of AMAT which is valued at $1,831,066. Applied Materials makes up approx 1.14% of Trimtabs Asset Management’s portfolio.Grandfield Dodd reduced its stake in AMAT by selling 14,426 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 471,998 shares of AMAT which is valued at $12,408,827. Applied Materials makes up approx 1.67% of Grandfield Dodd’s portfolio.Eliot Finkel Investment Counsel reduced its stake in AMAT by selling 10,500 shares or 4.26% in the most recent quarter. The Hedge Fund company now holds 235,930 shares of AMAT which is valued at $6,202,600. Applied Materials makes up approx 5.30% of Eliot Finkel Investment Counsel’s portfolio. Diversified Trust Co added AMAT to its portfolio by purchasing 39,796 company shares during the most recent quarter which is valued at $1,070,512. Applied Materials makes up approx 0.15% of Diversified Trust Co’s portfolio.Benjamin F. Edwards Company reduced its stake in AMAT by selling 100 shares or 44.44% in the most recent quarter. The Hedge Fund company now holds 125 shares of AMAT which is valued at $3,239.

Applied Materials opened for trading at $26.2 and hit $26.37 on the upside on Thursday, eventually ending the session at $26.37, with a gain of 0.65% or 0.17 points. The heightened volatility saw the trading volume jump to 49,26,186 shares. Company has a market cap of $28,721 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.

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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