Global X Japan Co. Ltd. Increases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Global X Japan Co. Ltd. increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 8.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 67,471 shares of the manufacturing equipment provider’s stock after buying an additional 5,336 shares during the quarter. Applied Materials accounts for approximately 1.1% of Global X Japan Co. Ltd.’s portfolio, making the stock its 23rd largest holding. Global X Japan Co. Ltd.’s holdings in Applied Materials were worth $9,791,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the fourth quarter valued at about $28,000. Mascagni Wealth Management Inc. purchased a new position in Applied Materials in the fourth quarter valued at approximately $44,000. Atala Financial Inc bought a new position in Applied Materials during the fourth quarter valued at $45,000. Minot DeBlois Advisors LLC purchased a new stake in Applied Materials in the fourth quarter worth $46,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at $47,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $172.84 on Thursday. The company’s fifty day moving average price is $157.92 and its 200-day moving average price is $163.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The firm has a market capitalization of $138.70 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.94 and a beta of 1.67. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89.

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

Applied Materials announced that its board has authorized a share repurchase plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio is currently 22.38%.

Insider Buying and Selling at Applied Materials

In related news, CEO Gary E. Dickerson bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the acquisition, the chief executive officer now directly owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the transaction, the chief accounting officer now directly owns 6,077 shares in the company, valued at $880,131.91. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AMAT. Morgan Stanley raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $162.00 to $158.00 in a report on Friday, June 6th. Bank of America dropped their price target on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus cut their price objective on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Mizuho dropped their target price on Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Finally, Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Friday, March 28th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

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.