Harris Associates L P Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Harris Associates L P reduced its stake in Applied Materials by 38.71% during the most recent quarter end. The investment management company now holds a total of 23,905,923 shares of Applied Materials which is valued at $649,762,987 after selling 15,096,572 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Applied Materials makes up approximately 1.23% of Harris Associates L P’s portfolio.

Other Hedge Funds, Including , Westbourne Investment Advisors added AMAT to its portfolio by purchasing 7,250 company shares during the most recent quarter which is valued at $197,055. Applied Materials makes up approx 0.17% of Westbourne Investment Advisors’s portfolio.Los Angeles Capital Management Equity Research Inc boosted its stake in AMAT in the latest quarter, The investment management firm added 127,870 additional shares and now holds a total of 156,258 shares of Applied Materials which is valued at $4,190,840. Applied Materials makes up approx 0.03% of Los Angeles Capital Management Equity Research Inc’s portfolio.Advisory Services Network boosted its stake in AMAT in the latest quarter, The investment management firm added 258 additional shares and now holds a total of 4,854 shares of Applied Materials which is valued at $130,573. Applied Materials makes up approx 0.03% of Advisory Services Network’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in AMAT in the latest quarter, The investment management firm added 64,977 additional shares and now holds a total of 120,477 shares of Applied Materials which is valued at $3,240,831. Applied Materials makes up approx 0.08% of Candriam Luxembourg S.c.a.’s portfolio.

Applied Materials opened for trading at $28.985 and hit $29.74 on the upside on Friday, eventually ending the session at $29.64, with a gain of 7.08% or 1.96 points. The heightened volatility saw the trading volume jump to 5,38,85,959 shares. Company has a market cap of $32,282 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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