Applied Materials, Inc. $AMAT Shares Acquired by Prudential PLC

Key Points

• Prudential PLC increased its Applied Materials stake by 128.2% in the fourth quarter, ending with 35,530 shares worth about $9.13 million.
• Several analysts turned more bullish on AMAT, with firms including Citigroup, Mizuho, Susquehanna, and Cantor Fitzgerald raising targets or reiterating positive ratings. The stock now carries a consensus rating of Moderate Buy and an average price target of $470.13.
• Applied Materials reported strong quarterly results, beating EPS and revenue estimates, and also raised its quarterly dividend to $0.53 per share from $0.46. The company’s revenue rose 11.4% year over year, and it gave Q3 guidance of $3.16 to $3.56 EPS.

Prudential PLC grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 128.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,530 shares of the manufacturing equipment provider's stock after purchasing an additional 19,961 shares during the period. Prudential PLC's holdings in Applied Materials were worth $9,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AMAT. Highline Wealth Partners LLC grew its stake in shares of Applied Materials by 48.7% in the fourth quarter. Highline Wealth Partners LLC now owns 116 shares of the manufacturing equipment provider's stock valued at $30,000 after buying an additional 38 shares in the last quarter. Joseph Group Capital Management acquired a new stake in shares of Applied Materials in the fourth quarter valued at $31,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials in the third quarter valued at $26,000. Dogwood Wealth Management LLC grew its stake in shares of Applied Materials by 52.4% in the fourth quarter. Dogwood Wealth Management LLC now owns 128 shares of the manufacturing equipment provider's stock valued at $33,000 after buying an additional 44 shares in the last quarter. Finally, IMG Wealth Management Inc. grew its stake in shares of Applied Materials by 147.2% in the fourth quarter. IMG Wealth Management Inc. now owns 131 shares of the manufacturing equipment provider's stock valued at $34,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Activity

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $505.28, for a total value of $25,264,000.00. Following the sale, the insider directly owned 356,642 shares of the company's stock, valued at approximately $180,204,069.76. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam Sanders sold 268 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $434.22, for a total transaction of $116,370.96. Following the completion of the sale, the chief accounting officer directly owned 4,280 shares in the company, valued at approximately $1,858,461.60. This represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 53,896 shares of company stock valued at $27,135,121. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMAT shares. Citigroup lifted their price objective on Applied Materials from $420.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Mizuho lifted their price objective on Applied Materials from $500.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Susquehanna lifted their price objective on Applied Materials from $435.00 to $500.00 and gave the company a "positive" rating in a research note on Thursday, April 9th. Summit Insights raised Applied Materials from a "hold" rating to a "buy" rating in a research note on Friday, February 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $575.00 price objective on shares of Applied Materials in a research note on Thursday, May 28th. Twenty-seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $470.13.

Applied Materials Trading Down 9.7%

NASDAQ:AMAT opened at $453.01 on Friday. The firm has a market cap of $359.67 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 1.41 and a beta of 1.67. The stock has a fifty day moving average price of $408.94 and a 200 day moving average price of $342.31. Applied Materials, Inc. has a 12-month low of $154.46 and a 12-month high of $510.75. The company has a current ratio of 2.51, a quick ratio of 1.80 and a debt-to-equity ratio of 0.22.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.18. Applied Materials had a return on equity of 36.97% and a net margin of 29.31%.The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same period last year, the business posted $2.39 earnings per share. Applied Materials's revenue was up 11.4% compared to the same quarter last year. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 12.02 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Applied Materials's previous quarterly dividend of $0.46. Applied Materials's payout ratio is currently 19.91%.

Applied Materials Profile

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.

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