Saba Capital Management Discloses New Position in Applied Materials, Inc.
According to a recent Form 13F filing submitted to the SEC, Saba Capital Management disclosed a noteworthy new position in Applied Materials, Inc. (NASDAQ: AMAT) stock. Here’s what you need to know about Applied Materials, Inc., as well as Saba Capital Management’s position in shares of AMAT stock:
Saba Capital Management
Founded in 2009, Saba Capital Management L.P. is a registered investment advisor focused on credit and equity relative value strategies. Saba is a spin-out of one of the largest proprietary groups in the industry, ‘Saba Principal Strategies’, founded by Boaz Weinstein at Deutsche Bank in 1998. Saba’s senior investment team began working together at Deutsche Bank in the early 2000s, and is best known for having pioneered credit relative value and capital structure trading strategies. Saba currently manages four core strategies: Credit Relative Value, Tail Hedge, SPACs and Closed-End Funds. Saba’s investors are predominately institutions and include corporate pensions, public pensions, foundations, fund of funds, endowments, and family offices. Saba is 100% self-owned. Saba is headquartered in the historic Chrysler Building in New York and is registered with the SEC and CFTC. You can learn more about Saba Capital Management on their website here.
Saba Capital Management’s New Position in AMAT Stock
According to the most recent 13F filing from Saba Capital Management, the institutional investment manager added a meaningful position in Applied Materials, Inc. (NASDAQ: AMAT), with 80,394 shares, which represents approximately 0.0093% of the 860,309,031 total AMAT shares outstanding. Based on AMAT’s last closing price of $110.46 per share, Saba Capital Management’s stake in AMAT is worth approximately $8,880,321.24, assuming no change in the position size. If you’re not very familiar with Applied Materials, Inc., learn more below.
Applied Materials, Inc. (NASDAQ: AMAT)
Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. The company operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.
Summary
Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Saba Capital Management. Also be sure to check out more recent 13F filing analysis news here.
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