Meiji Yasuda Asset Management Co Ltd. Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

Meiji Yasuda Asset Management Co Ltd. increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,254 shares of the manufacturing equipment provider’s stock after buying an additional 1,106 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Applied Materials were worth $6,432,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Precision Wealth Strategies LLC raised its stake in shares of Applied Materials by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock valued at $502,000 after purchasing an additional 242 shares during the period. Gilbert & Cook Inc. increased its stake in Applied Materials by 11.1% during the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock worth $678,000 after buying an additional 418 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Applied Materials by 5.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock worth $249,000 after buying an additional 84 shares in the last quarter. Brown Advisory Inc. boosted its position in Applied Materials by 3.5% in the 4th quarter. Brown Advisory Inc. now owns 67,648 shares of the manufacturing equipment provider’s stock valued at $10,964,000 after buying an additional 2,287 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its stake in shares of Applied Materials by 40.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,982 shares of the manufacturing equipment provider’s stock valued at $807,000 after acquiring an additional 1,444 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the sale, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group cut their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research note on Friday, August 16th. B. Riley dropped their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Stifel Nicolaus cut their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.00.

Applied Materials Price Performance

Shares of AMAT opened at $188.59 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The company has a market cap of $156.15 billion, a P/E ratio of 21.68, a PEG ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The stock has a fifty day moving average price of $201.65 and a 200 day moving average price of $210.55.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. On average, research analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. Applied Materials’s dividend payout ratio is presently 18.39%.

Applied Materials Company Profile

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.