Mitsubishi UFJ Asset Management Co. Ltd. Has $223.79 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Applied Materials by 10.3%, acquiring an additional 143,583 shares, bringing its total ownership to approximately $223.8 million.
• Analysts have a consensus rating of "Moderate Buy" for Applied Materials, with price targets ranging from $169 to $225, indicating strong investor interest.
• Applied Materials announced a quarterly dividend of $0.46 per share, equating to an annualized dividend yield of 1.0%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,541,999 shares of the manufacturing equipment provider's stock after purchasing an additional 143,583 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Applied Materials worth $223,786,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Runnymede Capital Advisors Inc. lifted its holdings in Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after purchasing an additional 175 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials in the first quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials in the fourth quarter worth about $44,000. Minot DeBlois Advisors LLC acquired a new stake in Applied Materials in the fourth quarter worth about $46,000. Finally, Costello Asset Management INC acquired a new stake in Applied Materials in the first quarter worth about $44,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America cut their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. TD Cowen cut their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wells Fargo & Company upped their price target on shares of Applied Materials from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and issued a $185.00 price target (up from $175.00) on shares of Applied Materials in a report on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of Applied Materials in a report on Thursday, July 10th. They issued a "buy" rating and a $225.00 price target for the company. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and a consensus price target of $204.09.

Applied Materials Stock Up 0.9%

Shares of NASDAQ AMAT traded up $1.72 during mid-day trading on Friday, reaching $184.87. The company had a trading volume of 4,338,229 shares, compared to its average volume of 6,090,117. The stock has a fifty day moving average of $182.16 and a two-hundred day moving average of $166.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The company has a market capitalization of $148.36 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.04 and a beta of 1.70. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, equities research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 1.0%. Applied Materials's dividend payout ratio is currently 22.38%.

About Applied Materials

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.