Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,489 shares of the manufacturing equipment provider’s stock after selling 3,346 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Applied Materials were worth $8,820,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tredje AP fonden increased its stake in Applied Materials by 96.9% in the first quarter. Tredje AP fonden now owns 163,143 shares of the manufacturing equipment provider’s stock valued at $7,242,000 after purchasing an additional 80,288 shares during the last quarter. Bedel Financial Consulting Inc. boosted its holdings in shares of Applied Materials by 117.9% in the 1st quarter. Bedel Financial Consulting Inc. now owns 5,674 shares of the manufacturing equipment provider’s stock valued at $260,000 after buying an additional 3,070 shares in the last quarter. National Asset Management Inc. boosted its holdings in shares of Applied Materials by 10.4% in the 1st quarter. National Asset Management Inc. now owns 14,983 shares of the manufacturing equipment provider’s stock valued at $688,000 after buying an additional 1,408 shares in the last quarter. Toroso Investments LLC purchased a new position in shares of Applied Materials in the 1st quarter valued at $211,000. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in Applied Materials by 34.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 48,138 shares of the manufacturing equipment provider’s stock worth $2,206,000 after acquiring an additional 12,254 shares in the last quarter. 80.88% of the stock is owned by hedge funds and other institutional investors.
Shares of AMAT stock traded down $0.63 during trading hours on Friday, reaching $54.39. 6,875,460 shares of the company’s stock were exchanged, compared to its average volume of 9,922,808. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.67 and a quick ratio of 1.89. The company’s 50 day moving average is $50.51 and its two-hundred day moving average is $56.21. The company has a market cap of $50.53 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.38. Applied Materials, Inc. has a 1 year low of $36.64 and a 1 year high of $69.44.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.20 billion. Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. During the same period in the prior year, the company earned $0.70 EPS. As a group, analysts predict that Applied Materials, Inc. will post 3.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, May 20th. This is an increase from Applied Materials’s previous quarterly dividend of $0.21. Applied Materials’s dividend payout ratio (DPR) is currently 28.95%.
AMAT has been the topic of several research reports. Mizuho reaffirmed a “buy” rating and set a $62.00 price objective (down previously from $65.00) on shares of Applied Materials in a report on Thursday, May 14th. Craig Hallum reaffirmed a “buy” rating and set a $79.00 price target (up previously from $70.00) on shares of Applied Materials in a research report on Thursday, February 13th. Morgan Stanley boosted their price objective on Applied Materials from $50.00 to $52.50 and gave the company an “equal weight” rating in a research note on Friday, May 15th. ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Deutsche Bank reduced their price target on shares of Applied Materials from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $67.35.
About Applied Materials
Applied Materials, Inc provides 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.
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