Applied Materials, Inc. $AMAT Shares Sold by Summit Street Capital Management LLC

Summit Street Capital Management LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 50.0% during the second quarter, Holdings Channel reports. The fund owned 29,589 shares of the manufacturing equipment provider’s stock after selling 29,615 shares during the quarter. Applied Materials accounts for 3.0% of Summit Street Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Summit Street Capital Management LLC’s holdings in Applied Materials were worth $21,393,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cornerstone Financial Management LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $25,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $26,000. Harborfront Financial Group LLC bought a new stake in shares of Applied Materials in the second quarter worth $27,000. Financial Freedom LLC bought a new stake in shares of Applied Materials in the first quarter worth $28,000. Finally, Joseph Group Capital Management acquired a new stake in Applied Materials in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AMAT shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $605.00 price objective on shares of Applied Materials in a research note on Friday, August 14th. Wolfe Research boosted their target price on shares of Applied Materials from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Applied Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Citigroup reaffirmed a “buy” rating on shares of Applied Materials in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Applied Materials from $515.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $657.76.

Key Applied Materials News

Here are the key news stories impacting Applied Materials this week:

• Positive Sentiment: Qualcomm executive joins the board: Applied Materials appointed Qualcomm CFO and COO Akash Palkhiwala as a director and Audit Committee member. His semiconductor-industry, finance and operating experience could strengthen the board as AMAT targets growth in advanced logic, memory and AI infrastructure. Applied Materials Appoints Akash Palkhiwala to Board of Directors
• Positive Sentiment: AI buildout supports earnings momentum: Recent coverage highlights AMAT’s record quarter-over-quarter revenue increase, with quarterly revenue of $9.12 billion, up 25% year over year, and non-GAAP earnings per share of $3.50, up 41%. Demand is being driven by advanced DRAM, high-bandwidth memory, leading-edge logic and advanced packaging. The AI Buildout Is Turning Applied Materials Into A Profit Machine
• Positive Sentiment: Services business remains healthy: AMAT’s Applied Global Services segment reported record revenue and expanding margins, supported by subscription services, parts demand and increased semiconductor-fab utilization. This recurring revenue stream may help cushion equipment-cycle volatility. AMAT’s AGS Business Gains Momentum
• Neutral Sentiment: Analyst upside remains substantial: The average Wall Street price target implies roughly 35% potential upside, although targets are estimates and AMAT’s elevated valuation makes further gains dependent on continued earnings growth. Does Applied Materials Have the Potential to Rally?
• Negative Sentiment: China exposure is a key overhang: New Chinese immersion DUV lithography capabilities and tighter export controls raise concerns about domestic competition and reduced access to China, a significant AMAT market. Applied Materials’ China Problem Is Getting Worse
• Negative Sentiment: CFO stock sale adds a minor sentiment concern: CFO Brice Hill sold 7,500 shares worth approximately $3.6 million, reducing his holdings by 5.51%. The transaction does not change AMAT’s fundamentals but may weigh modestly on investor sentiment. SEC Insider Transaction Filing

Applied Materials Stock Performance

Applied Materials stock opened at $482.36 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.42 and a quick ratio of 1.79. Applied Materials, Inc. has a 12 month low of $154.46 and a 12 month high of $739.67. The company has a fifty day moving average price of $553.91 and a two-hundred day moving average price of $456.73. The company has a market cap of $382.80 billion, a PE ratio of 41.58, a P/E/G ratio of 1.03 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.10. Applied Materials had a net margin of 30.05% and a return on equity of 38.02%. The company had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the company earned $2.48 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. Applied Materials has set its Q4 2026 guidance at 3.820-4.220 EPS. Research analysts expect that Applied Materials, Inc. will post 12.73 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.12 annualized dividend and a yield of 0.4%. Applied Materials’s dividend payout ratio is 18.28%.

Insider Transactions at Applied Materials

In other news, Director Thomas J. Iannotti sold 9,250 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $599.77, for a total transaction of $5,547,872.50. Following the sale, the director directly owned 40,559 shares in the company, valued at approximately $24,326,071.43. This represents a 18.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy M. Deane sold 8,621 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $590.76, for a total value of $5,092,941.96. Following the sale, the senior vice president owned 134,631 shares in the company, valued at $79,534,609.56. The trade was a 6.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 284,192 shares of company stock valued at $172,625,209 over the last ninety days. Insiders own 0.30% of the company’s stock.

About Applied Materials

Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.

Applied Materials’ offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.