Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Trims Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the 1st quarter, according to its most recent 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.

Several other institutional investors and hedge funds have also made changes to their positions in AMAT. ARP Americas LP acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $2,069,000. Csenge Advisory Group bought a new position in Applied Materials during the 1st quarter valued at $245,000. Rosenbaum Jay D. grew its holdings in Applied Materials by 18.9% during the 4th quarter. Rosenbaum Jay D. now owns 8,498 shares of the manufacturing equipment provider’s stock worth $519,000 after acquiring an additional 1,348 shares in the last quarter. Tredje AP fonden increased its position in shares of Applied Materials by 22.7% in the 4th quarter. Tredje AP fonden now owns 82,855 shares of the manufacturing equipment provider’s stock worth $5,057,000 after purchasing an additional 15,312 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Applied Materials by 2.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 217,981 shares of the manufacturing equipment provider’s stock worth $13,306,000 after purchasing an additional 4,294 shares during the last quarter. 80.88% of the stock is currently owned by institutional investors.

Applied Materials stock traded down $0.63 during mid-day trading on Friday, hitting $54.39. The company’s stock had a trading volume of 6,875,460 shares, compared to its average volume of 9,922,808. The stock has a market capitalization of $50.53 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.06 and a beta of 1.38. Applied Materials, Inc. has a twelve month low of $36.64 and a twelve month high of $69.44. The stock’s fifty day moving average price is $50.51 and its two-hundred day moving average price is $56.21. The company has a quick ratio of 1.89, a current ratio of 2.67 and a debt-to-equity ratio of 0.69.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The company had revenue of $3.96 billion during 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 quarter in the previous year, the firm earned $0.70 earnings per share. Equities analysts expect that Applied Materials, Inc. will post 3.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be paid a $0.22 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. This is a boost from Applied Materials’s previous quarterly dividend of $0.21. Applied Materials’s dividend payout ratio (DPR) is currently 28.95%.

A number of research firms recently commented on AMAT. KeyCorp decreased their price target on Applied Materials from $86.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Morgan Stanley lifted their target price on Applied Materials from $50.00 to $52.50 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. DA Davidson upped their price target on Applied Materials from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Stifel Nicolaus raised their price objective on Applied Materials from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Needham & Company LLC lowered their target price on shares of Applied Materials from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, May 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. Applied Materials currently has an average rating of “Buy” and an average target price of $67.35.

Applied Materials Company Profile

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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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