Global X Japan Co. Ltd. boosted its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,471 shares of the manufacturing equipment provider's stock after acquiring an additional 5,336 shares during the period. Applied Materials accounts for 1.1% of Global X Japan Co. Ltd.'s portfolio, making the stock its 23rd largest position. Global X Japan Co. Ltd.'s holdings in Applied Materials were worth $9,791,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in Applied Materials in the fourth quarter worth about $28,000. Mascagni Wealth Management Inc. acquired a new position in Applied Materials in the fourth quarter valued at approximately $44,000. Atala Financial Inc acquired a new position in Applied Materials in the fourth quarter valued at approximately $45,000. Minot DeBlois Advisors LLC bought a new position in Applied Materials during the fourth quarter worth about $46,000. Finally, Centricity Wealth Management LLC bought a new position in Applied Materials during the fourth quarter worth about $47,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.
Applied Materials Stock Performance
NASDAQ AMAT traded down $3.38 on Friday, reaching $169.46. The stock had a trading volume of 18,385,582 shares, compared to its average volume of 7,038,696. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The firm has a fifty day moving average of $158.62 and a two-hundred day moving average of $163.17. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The company has a market cap of $135.99 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.92 and a beta of 1.67.
Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The company's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.
Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Applied Materials Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.09%. Applied Materials's dividend payout ratio is currently 22.38%.
Insider Buying and Selling
In related news, CAO Adam Sanders sold 450 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at $880,131.91. This represents a 6.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. The trade was a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. TD Cowen reduced their target price on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Mizuho cut their price objective on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald cut their price objective on Applied Materials from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Morgan Stanley raised Applied Materials from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $162.00 to $158.00 in a research report on Friday, June 6th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.29.
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About Applied Materials
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Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.
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