Putnam Investments LLC Sells 976,656 Shares of Applied Materials, Inc. (AMAT)

Putnam Investments LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 32.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,028,371 shares of the manufacturing equipment provider’s stock after selling 976,656 shares during the quarter. Putnam Investments LLC’s holdings in Applied Materials were worth $93,691,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AMAT. Kaizen Advisory LLC grew its stake in shares of Applied Materials by 147.4% in the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock valued at $118,000 after buying an additional 1,526 shares in the last quarter. Rational Advisors LLC boosted its holdings in Applied Materials by 5,102.0% in the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Applied Materials by 127.1% in the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock valued at $141,000 after purchasing an additional 1,709 shares during the last quarter. Whittier Trust Co. boosted its holdings in Applied Materials by 24.3% in the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new position in Applied Materials in the first quarter valued at about $147,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

NASDAQ:AMAT opened at $39.10 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.67 and a current ratio of 2.52. Applied Materials, Inc. has a 52 week low of $37.39 and a 52 week high of $62.40. The company has a market cap of $37.74 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.67 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the business posted $0.86 EPS. Applied Materials’s quarterly revenue was up 19.3% compared to the same quarter last year. research analysts forecast that Applied Materials, Inc. will post 4.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 21st. Applied Materials’s dividend payout ratio is presently 24.62%.

A number of research analysts recently commented on the company. BidaskClub raised Applied Materials from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Bank of America reduced their price target on Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 17th. Citigroup reduced their price target on Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a report on Friday, August 17th. Nomura reduced their price target on Applied Materials from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 20th. Finally, Evercore ISI reduced their price target on Applied Materials to $65.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $62.26.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment 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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