The New William C. Martin’s Raging Capital Management Holding in Intermolecular Inc
Raging Capital Management filed with the SEC SC 13D/A form for Intermolecular Inc. The form can be accessed here: 000092189516006170. As reported in William C. Martin’s Raging Capital Management’s form, the filler as of late owns 27.3% or 13,526,205 shares of the Information Technology–company.
Intermolecular Inc stake is a new one for the for the hedge fund and it was filed because of activity on November 14, 2016. We feel this shows William C. Martin’s Raging Capital Management’s positive view for the stock. For a hedge fund managing $631.31 million in assets and having 7+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of William C. Martin’s Raging Capital Management’s US equities portfolio is in this sector.
Reasons Why William C. Martin’s Raging Capital Management Bought – Intermolecular Inc Stock
Purpose of Transaction
Item 4 is hereby amended to add the following:
On November 14, 2016, Raging Capital and the Issuer entered into a Governance Agreement (the “Governance Agreement”) pursuant to which the Issuer and Raging Capital agreed to include in the slate of nominees recommended by the Board of Directors of the Issuer (the “Board”) for election as directors at the 2017 annual meeting of stockholders of the Issuer (the “2017 Annual Meeting”) an individual to be designated by Raging Capital (the “Investor Designee”) who is approved by the Nominating and Corporate Governance Committee of the Board, subject to its fiduciary duties, which approval shall not be unreasonably withheld.Raging Capital agreed that it will not seek to elect more than one (1) director to the Board at the 2017 Annual Meeting or otherwise prior to the date that is thirty (30) calendar days prior to the deadline established pursuant to the Issuer’s bylaws for the submission of stockholder nominations for the 2018 annual meeting of stockholders of the Issuer.At the 2017 Annual Meeting, Raging Capital agreed to vote all Shares of the Issuer beneficially owned by Raging Capital and entitled to be voted at the meeting in favor of the election of the director nominees, including the Investor Designee, recommended by the Board.Raging Capital and the Issuer also agreed that Raging Capital or any of its affiliates may acquire, at their discretion, up to an additional 8 million Shares of the Issuer (the “New Shares”), in accordance with the Issuer’s insider trading policy, provided that with respect to the New Shares, at any general or special meeting of the Issuer’s stockholders, or in connection with any written consent of the Issuer’s stockholders, Raging Capital (and its affiliates, as applicable) will vote all of the New Shares entitled to be voted at the meeting or execute any applicable written consent of stockholders in the same proportion as all Shares of the Issuer other than those beneficially owned by Raging Capital or its affiliates are voted (or consented, as applicable) with respect to any matter up for stockholder vote or written consent. The foregoing description of the terms and conditions of the Governance Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Governance Agreement, which is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
CUSIP NO. 45882D 10 9
Intermolecular Inc Institutional Sentiment
Latest Security and Exchange filings show 28 investors own Intermolecular Inc. The institutional ownership in Q3 2015 is low, at 6.42% of the outstanding shares. This is increased by 490957 the total institutional shares. 17460219 were the shares owned by these institutional investors. In total 4 funds opened new Intermolecular Inc stakes, 11 increased stakes. There were 1 that closed positions and 4 reduced them.
Thompson Siegel & Walmsley Llc is an institutional investor bullish on Intermolecular Inc, owning 2400 shares as of Q3 2015 for less than 0.01% of its portfolio. Davenport & Company Llc owns 10000 shares or less than 0.01% of its portfolio. PA Symmetry Peak Management Llc have 0.28% of their stock portfolio for 881207 shares. Further, 683 Capital Management Llc reported stake worth 0.03% of its US stock portfolio. The NJ Raging Capital Management Llc owns 11349627 shares. Intermolecular Inc is 2.82% of the manager’s US portfolio.
IMI plc is a United Kingdom-based specialist engineering company. The Company is engaged in designing, manufacturing and servicing engineered products that control the precise movement of fluids. The Company operates though the following segments: IMI critical engineering, which provides flow control solutions; IMI precision engineering, which specializes in developing motion and fluid control technologies, and IMI hydronic engineering, which is engaged in designing and manufacturing technologies that delivers heating and cooling systems to the residential and commercial building sectors. The Company works with industrial customers across a range of sectors, including energy, transportation and infrastructure. The Company has manufacturing facilities in approximately 20 countries and operates in global service network.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
William C. Martin’s Raging Capital Management website.
Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.37, from 1.5 in 2016Q1. The ratio worsened, as 7 funds sold all IMI plc shares owned while 8 reduced positions. 8 funds bought stakes while 9 increased positions. They now own 19.16 million shares or 0.41% more from 19.08 million shares in 2016Q1.
Tower Capital Ltd Liability Corporation (Trc) accumulated 6,782 shares or 0% of the stock. Blackrock Fund owns 66,715 shares or 0% of their US portfolio. Morgan Stanley reported 2,445 shares or 0% of all its holdings. Citadel Advsr Ltd reported 12,264 shares or 0% of all its holdings. Financial Bank Of Ny Mellon has 11,795 shares for 0% of their US portfolio. Vanguard Grp Inc last reported 0% of its portfolio in the stock. The Minnesota-based Us Bank & Trust De has invested 0% in IMI plc (LON:IMI). Symmetry Peak Mngmt Ltd reported 1.02 million shares or 0.25% of all its holdings. Price T Rowe Assocs Md has 674,200 shares for 0% of their US portfolio. Blackrock Institutional Tru Na has 0% invested in the company for 58,783 shares. Deutsche Bankshares Ag holds 0% or 31,611 shares in its portfolio. Jacobs Levy Equity Management accumulated 0% or 90,345 shares. Blackrock Inv Ltd Liability holds 0% of its portfolio in IMI plc (LON:IMI) for 4,623 shares. Renaissance Technology accumulated 749,200 shares or 0% of the stock. Creative Planning holds 0% of its portfolio in IMI plc (LON:IMI) for 23,000 shares.
Insider Transactions: Since May 17, 2016, the stock had 3 insider buys, and 0 sales for $2.34 million net activity. MARTIN WILLIAM C also bought $13,678 worth of IMI plc (LON:IMI) shares. FEDERMAN IRWIN also bought $190,430 worth of IMI plc (LON:IMI) shares.
The stock increased 0.09% or GBX 0.78 on November 14, hitting GBX 916.28. About 910,519 shares traded hands or 15.54% up from the average. IMI plc (LON:IMI) has declined 3.55% since April 15, 2016 and is downtrending. It has underperformed by 8.53% the S&P500.
IMI plc is a United Kingdom-based specialist engineering company. The company has a market cap of 2.49 billion GBP. The Firm is engaged in designing, manufacturing and servicing engineered products that control the precise movement of fluids. It has a 23.86 P/E ratio. The Firm operates though the following divisions: IMI critical engineering, which provides flow control solutions; IMI precision engineering, which specializes in developing motion and fluid control technologies, and IMI hydronic engineering, which is engaged in designing and manufacturing technologies that delivers heating and cooling systems to the residential and commercial building sectors.
IMI plc (LON:IMI) Ratings Coverage
Out of 22 analysts covering IMI PLC (LON:IMI), 4 rate it a “Buy”, 2 “Sell”, while 16 “Hold”. This means 18% are positive. GBX 1500 is the highest target while GBX 700 is the lowest. The GBX 1011.26 average target is 10.37% above today’s (GBX 916.28) stock price. IMI PLC has been the topic of 133 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Wednesday, April 20 the stock rating was maintained by Credit Suisse with “Underperform”. On Wednesday, October 28 the stock rating was maintained by JP Morgan with “Overweight”. The firm has “Neutral” rating by JP Morgan given on Monday, June 13. Societe Generale maintained it with “Hold” rating and GBX 975 target price in Friday, February 26 report. The company was maintained on Tuesday, December 15 by Jefferies. Citigroup maintained the stock with “Neutral” rating in Tuesday, December 1 report. The rating was maintained by RBC Capital Markets on Wednesday, August 5 with “Sector Perform”. RBC Capital Markets maintained the shares of IMI in a report on Tuesday, December 1 with “Underperform” rating. The company was maintained on Thursday, July 23 by AlphaValue. RBC Capital Markets maintained IMI plc (LON:IMI) rating on Friday, August 28. RBC Capital Markets has “Sector Perform” rating and GBX 1360 price target.
Another recent and important IMI plc (LON:IMI) news was published by Fool.Co.Uk which published an article titled: “Will IMI plc, Filtronic plc and Costain Group plc rise or fall by 20% in 2016?” on May 05, 2016.
According to Zacks Investment Research, “Intermolecular, Inc. provides high productivity combinatorial technology products and services in order to accelerate research and development, innovation and time-to-market for the semiconductor and clean-energy industries. It also develops technology and intellectual property for its customers. The Company’s customers include semiconductor device, semiconductor materials and equipment, and clean-energy companies. Intermolecular, Inc. is headquartered in San Jose, California.”
IMI Company Profile
Intermolecular, Inc., incorporated on June 16, 2004, provides solutions for the evaluation and development of engineered thin-film materials for next generation technology products. The Firm is a partner for the innovation of advanced materials using high throughput experimentation. The Company’s high productivity combinatorial (HPC) platform consists of tempus processing tools, automated characterization methods, and Informatics analysis software, which is purpose-built for research and development (R&D) using combinatorial process systems in concert with established chemical vapor deposition (CVD), physical vapor deposition (PVD) and atomic layer deposition (ALD) deposition methods. Combinatorial processing is a methodology for experimentation, discovery and development that employs parallel and other high-throughput experimentation. It begins the development and discovery process by working with its clients to define the specific requirements.
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