Empire Capital Management L.l.c. adds Applied Materials (AMAT) to its portfolio

Applied Materials (AMAT) : Empire Capital Management L.l.c. added new position in Applied Materials during the most recent quarter end. The investment management firm now holds 135,000 shares of Applied Materials which is valued at $3,669,300 , the company said in a statement filed on Aug 15, 2016 with the SEC.Applied Materials makes up approximately 10.86% of Empire Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Point72 Asia (hong Kong) Ltd added AMAT to its portfolio by purchasing 11,200 company shares during the most recent quarter which is valued at $304,416. Applied Materials makes up approx 0.56% of Point72 Asia (hong Kong) Ltd’s portfolio.Nomura Asset Management Co Ltd boosted its stake in AMAT in the latest quarter, The investment management firm added 2,026 additional shares and now holds a total of 161,363 shares of Applied Materials which is valued at $4,385,846. Applied Materials makes up approx 0.08% of Nomura Asset Management Co Ltd’s portfolio.Dekabank Deutsche Girozentrale boosted its stake in AMAT in the latest quarter, The investment management firm added 94,000 additional shares and now holds a total of 157,252 shares of Applied Materials which is valued at $4,215,926. Applied Materials makes up approx 0.05% of Dekabank Deutsche Girozentrale’s portfolio.Rnc Capital Management reduced its stake in AMAT by selling 853,003 shares or 82.34% in the most recent quarter. The Hedge Fund company now holds 182,979 shares of AMAT which is valued at $4,922,135. Applied Materials makes up approx 0.45% of Rnc Capital Management’s portfolio.

Applied Materials opened for trading at $29.94 and hit $30.29 on the upside on Thursday, eventually ending the session at $30.29, with a gain of 1.51% or 0.45 points. The heightened volatility saw the trading volume jump to 1,07,05,194 shares. Company has a market cap of $32,740 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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