Ignite Planners LLC Has $559,000 Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Ignite Planners LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,678 shares of the manufacturing equipment provider’s stock after selling 145 shares during the quarter. Ignite Planners LLC’s holdings in Applied Materials were worth $559,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMAT. Aldebaran Financial Inc. bought a new position in shares of Applied Materials during the fourth quarter worth about $211,000. Sycomore Asset Management raised its position in shares of Applied Materials by 55.6% during the fourth quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider’s stock worth $5,437,000 after acquiring an additional 11,825 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Applied Materials during the fourth quarter worth about $7,274,000. First National Bank of Mount Dora Trust Investment Services bought a new stake in Applied Materials in the first quarter worth approximately $1,764,000. Finally, GHP Investment Advisors Inc. increased its holdings in Applied Materials by 132.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 16,704 shares of the manufacturing equipment provider’s stock worth $2,707,000 after purchasing an additional 9,527 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Down 2.4 %

AMAT stock opened at $229.84 on Tuesday. The stock’s fifty day simple moving average is $215.39 and its two-hundred day simple moving average is $193.86. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $249.42. The stock has a market cap of $190.30 billion, a P/E ratio of 26.42, a P/E/G ratio of 3.08 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Analysts expect that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.70%. Applied Materials’s dividend payout ratio is currently 18.39%.

Insiders Place Their Bets

In other news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the transaction, the senior vice president now owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares in the company, valued at approximately $16,767,230.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,827 shares of company stock valued at $21,382,560. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Applied Materials in a report on Friday, May 17th. Evercore ISI assumed coverage on Applied Materials in a report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 target price for the company. UBS Group lifted their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Susquehanna lifted their target price on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, Mizuho boosted their price objective on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $221.84.

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.