Let’s now move on to Applied Materials Inc. (NASDAQ:AMAT), which is a global leader in materials engineering solutions for the semiconductor, flat panel displays and solar photovoltaic industries. At the end of the second quarter, 65 investors within our database held shares of Applied Materials with a total value of $2.47 billion, versus 81 funds holding $4.36 billion worth of stock at the end of March. Applied Materials shares shed to the lowest level since the beginning of 2014, losing 33% in 2015, so bottom-fishing investors might see the stock as a good buying opportunity. The company has recently posted its financial results for the third fiscal quarter ended July 26, reporting net sales of $2.49 billion, up by 10% year-over-year, while its non-GAAP adjusted earnings per share came at $0.33, marking an increase of 18% on the year. Larry Robbins’ Glenview Capital is bullish on Applied Materials Inc. (NASDAQ:AMAT), increasing its stake by 7.82 million shares during the quarter to 21.28 million shares.
The number of hedge funds invested in Intel Corporation (NASDAQ:INTC) stood at 48 at the end of the June, down by 13 from the previous quarter. Also, the value of their stakes in the company decreased by 19% to $4.21 billion. Intel has seen its stock decline by 20% since the start of 2015, but some analysts believe that there is some upside potential in the near future. It has been recently rumored that Intel is set to capture approximately 50% of Apple Inc. (NASDAQ:AAPL)’s modem business in the iPhone 6s product cycle. Assuming that the rumors are true and Intel can actually capture half of the modem business for the iPhone 6s, the chipmaker might generate revenues in the range of $750 million to $1.25 billion, which represents a much-needed boost for Intel. Meanwhile, Harris Associates LP, which is among the 737 funds that we track, owns a stake of 63.84 million shares in Intel Corporation (NASDAQ:INTC) according to its most recent 13F filing.
Last but not least, Cypress Semiconductor Corporation (NASDAQ:CY) is a semiconductor stock, in which 35 funds held long positions at the end of June, down by four during the quarter, whereas the aggregate value of their holdings decreased to $1.03 billion from $1.07 billion. Cypress Semiconductors has recently announced the divestiture of its TrueTouch mobile touchscreen business to Parade Technologies Ltd. The divestiture allows Cypress to sustain its focus on the embedded automotive and industrial markets. At the same time, $100 million in cash generated from the deal will most likely enhance the capacity for shareholder returns. Let’s not forget to mention that the stock of Cypress has dropped by almost 29% year-to-date. Soros Fund Management, founded by the reputable investor George Soros, holds a stake worth $162.03 million in Cypress Semiconductor Corporation (NASDAQ:CY), which contains 15.87 million shares.
Disclosure: None
