Mizuho Securities USA LLC Boosts Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mizuho Securities USA LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 45.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,135 shares of the manufacturing equipment provider’s stock after purchasing an additional 24,445 shares during the quarter. Mizuho Securities USA LLC’s holdings in Applied Materials were worth $12,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. EdgePoint Investment Group Inc. grew its stake in shares of Applied Materials by 341.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after purchasing an additional 2,209,218 shares during the period. Janus Henderson Group PLC grew its stake in Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after acquiring an additional 1,884,153 shares during the period. Raymond James Financial Inc. acquired a new stake in Applied Materials in the 4th quarter valued at $182,962,000. Alecta Tjanstepension Omsesidigt acquired a new stake in Applied Materials in the 4th quarter valued at $157,426,000. Finally, Flossbach Von Storch SE grew its stake in Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock valued at $260,221,000 after acquiring an additional 893,995 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AMAT shares. Citigroup lifted their price target on shares of Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Sanford C. Bernstein dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. Wells Fargo & Company decreased their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Mizuho decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC decreased their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

NASDAQ AMAT opened at $152.12 on Friday. The company has a market cap of $123.59 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The stock has a 50-day moving average of $170.32 and a two-hundred day moving average of $177.93. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.21%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

Applied Materials declared that its Board of Directors has approved a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Applied Materials 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.