Rakuten Securities Inc. Takes $232,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Rakuten Securities Inc. purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,433 shares of the manufacturing equipment provider’s stock, valued at approximately $232,000.

Other large investors also recently made changes to their positions in the company. Financial Freedom LLC acquired a new stake in Applied Materials during the 4th quarter worth $25,000. Global Wealth Management Investment Advisory Inc. raised its stake in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after buying an additional 100 shares during the period. BluePath Capital Management LLC acquired a new stake in Applied Materials during the 3rd quarter worth $39,000. Quarry LP acquired a new stake in Applied Materials during the 1st quarter worth $40,000. Finally, RVW Wealth LLC acquired a new stake in shares of Applied Materials in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $10.14 during trading on Wednesday, reaching $199.34. 3,188,881 shares of the stock were exchanged, compared to its average volume of 6,155,032. Applied Materials, Inc. has a 12 month low of $109.12 and a 12 month high of $214.91. The firm has a market cap of $165.63 billion, a PE ratio of 24.05, a PEG ratio of 3.08 and a beta of 1.59. The stock has a 50-day moving average price of $201.54 and a 200-day moving average price of $168.85. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The company had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Research analysts expect that Applied Materials, Inc. will post 8.04 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s payout ratio is currently 15.06%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI assumed coverage on Applied Materials in a research note on Tuesday. They issued an “outperform” rating and a $260.00 price target on the stock. Mizuho lifted their price target on Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Bank Of America (Bofa) lifted their price target on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Barclays lifted their price target on Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. Finally, Morgan Stanley lifted their price target on Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.50.

About Applied Materials

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.