Praesidium Investment Management Company Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Praesidium Investment Management Company reduced its stake in Applied Materials by 2.76% during the most recent quarter end. The investment management company now holds a total of 4,563,110 shares of Applied Materials which is valued at $131,508,830 after selling 129,335 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Applied Materials makes up approximately 10.78% of Praesidium Investment Management Company’s portfolio.

Other Hedge Funds, Including , Systematic Financial Management Lp reduced its stake in AMAT by selling 975,502 shares or 41.5% in the most recent quarter. The Hedge Fund company now holds 1,375,034 shares of AMAT which is valued at $39,862,236. Applied Materials makes up approx 0.56% of Systematic Financial Management Lp’s portfolio.Westfield Capital Management Co Lp boosted its stake in AMAT in the latest quarter, The investment management firm added 936,289 additional shares and now holds a total of 1,449,454 shares of Applied Materials which is valued at $40,845,614. Applied Materials makes up approx 0.33% of Westfield Capital Management Co Lp’s portfolio.Finemark National Bank Trust reduced its stake in AMAT by selling 400 shares or 1.63% in the most recent quarter. The Hedge Fund company now holds 24,100 shares of AMAT which is valued at $679,138. Applied Materials makes up approx 0.07% of Finemark National Bank Trust’s portfolio. Jacobus Wealth Management added AMAT to its portfolio by purchasing 4,250 company shares during the most recent quarter which is valued at $124,653. Applied Materials makes up approx 0.04% of Jacobus Wealth Management’s portfolio.Partnerre Asset Management Corp reduced its stake in AMAT by selling 100 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 7,649 shares of AMAT which is valued at $219,220. Applied Materials makes up approx 0.11% of Partnerre Asset Management Corp’s portfolio.

Applied Materials opened for trading at $30.47 and hit $31.25 on the upside on Monday, eventually ending the session at $30.74, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 2,39,58,862 shares. Company has a market cap of $33,227 M.

On the company’s financial health, Applied Materials reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 17, 2016. Analyst had a consensus of $0.65. The company had revenue of $3297.00 million for the quarter, compared to analysts expectations of $3307.22 million. The company’s revenue was up 39.2% 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 Sep 8, 2016, Applied Materials announced a cash dividend of $0.1000. The company’s management has announced Nov 22, 2016 as the ex-dividend date and fixed the record date on Nov 25, 2016. The payable date has been fixed on Dec 15, 2016.

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 .

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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