Meiji Yasuda Life Insurance Co Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

Meiji Yasuda Life Insurance Co increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,967 shares of the manufacturing equipment provider’s stock after buying an additional 417 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Applied Materials were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Applied Materials by 168.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,268 shares of the manufacturing equipment provider’s stock worth $42,000 after purchasing an additional 795 shares during the last quarter. ETF Managers Group LLC increased its holdings in shares of Applied Materials by 20.2% during the 4th quarter. ETF Managers Group LLC now owns 2,408 shares of the manufacturing equipment provider’s stock worth $79,000 after acquiring an additional 405 shares during the last quarter. Buckingham Capital Management Inc. grew its holdings in Applied Materials by 0.4% in the 4th quarter. Buckingham Capital Management Inc. now owns 88,027 shares of the manufacturing equipment provider’s stock valued at $2,882,000 after buying an additional 309 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Applied Materials by 13.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 47,467 shares of the manufacturing equipment provider’s stock valued at $1,554,000 after buying an additional 5,600 shares in the last quarter. Finally, Brasada Capital Management LP grew its holdings in Applied Materials by 400.0% in the 4th quarter. Brasada Capital Management LP now owns 5,000 shares of the manufacturing equipment provider’s stock valued at $164,000 after buying an additional 4,000 shares in the last quarter. 77.59% of the stock is owned by hedge funds and other institutional investors.

In other Applied Materials news, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total value of $1,067,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Omkaram Nalamasu sold 143,255 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.73, for a total transaction of $5,834,776.15. The disclosure for this sale can be found here. Insiders sold a total of 170,255 shares of company stock worth $6,987,176 over the last ninety days. 0.44% of the stock is currently owned by insiders.

Several analysts recently weighed in on the company. Cowen upped their price objective on Applied Materials from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Citigroup raised their target price on Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Co increased their price target on Applied Materials from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, June 4th. Finally, Nomura began coverage on Applied Materials in a report on Friday, June 7th. They issued a “neutral” rating and a $40.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $51.43.

Applied Materials stock opened at $40.60 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $38.09 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.55 and a beta of 1.67. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $51.04.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. On average, analysts expect that Applied Materials, Inc. will post 2.98 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 2.07%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

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Applied Materials 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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