Bellecapital International Ltd. adds Applied Materials (AMAT) to its portfolio

Applied Materials (AMAT) : Bellecapital International Ltd. added new position in Applied Materials during the most recent quarter end. The investment management firm now holds 9,000 shares of Applied Materials which is valued at $244,620 , the company said in a statement filed on Aug 11, 2016 with the SEC.Applied Materials makes up approximately 0.25% of Bellecapital International Ltd.’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in AMAT in the latest quarter, The investment management firm added 848,746 additional shares and now holds a total of 3,437,369 shares of Applied Materials which is valued at $93,427,689. Applied Materials makes up approx 0.12% of Credit Suisse Ag’s portfolio. Bryn Mawr Trust Co added AMAT to its portfolio by purchasing 8,650 company shares during the most recent quarter which is valued at $235,107. Applied Materials makes up approx 0.01% of Bryn Mawr Trust Co’s portfolio.Chemung Canal Trust Co reduced its stake in AMAT by selling 10,694 shares or 26.66% in the most recent quarter. The Hedge Fund company now holds 29,420 shares of AMAT which is valued at $773,452. Applied Materials makes up approx 0.18% of Chemung Canal Trust Co’s portfolio.Oakbrook Investments reduced its stake in AMAT by selling 4,550 shares or 3.63% in the most recent quarter. The Hedge Fund company now holds 120,650 shares of AMAT which is valued at $3,181,541. Applied Materials makes up approx 0.17% of Oakbrook Investments’s portfolio. Old Mutual Global Investors (uk) Ltd. added AMAT to its portfolio by purchasing 3,120,777 company shares during the most recent quarter which is valued at $82,294,889. Applied Materials makes up approx 1.47% of Old Mutual Global Investors (uk) Ltd.’s portfolio.

Applied Materials opened for trading at $29.25 and hit $30.15 on the upside on Tuesday, eventually ending the session at $29.95, with a gain of 2.74% or 0.8 points. The heightened volatility saw the trading volume jump to 2,35,49,175 shares. Company has a market cap of $32,620 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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