Applied Materials, Inc. $AMAT Stock Position Reduced by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. reduced its Applied Materials stake by 19% in the fourth quarter, selling 10,958 shares and leaving it with 46,580 shares valued at about $11.97 million.
• Applied Materials is drawing bullish analyst attention, with multiple firms raising price targets and the stock holding a consensus rating of “Moderate Buy” from analysts.
• The company posted strong quarterly results, beating earnings and revenue estimates, lifting guidance, and increasing its quarterly dividend from $0.46 to $0.53 per share.

Cullen Frost Bankers Inc. decreased its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,580 shares of the manufacturing equipment provider's stock after selling 10,958 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Applied Materials were worth $11,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hardy Reed LLC boosted its holdings in shares of Applied Materials by 1.0% in the 4th quarter. Hardy Reed LLC now owns 7,531 shares of the manufacturing equipment provider's stock valued at $1,935,000 after buying an additional 73 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in Applied Materials by 17.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 19,300 shares of the manufacturing equipment provider's stock worth $4,960,000 after acquiring an additional 2,800 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong boosted its stake in Applied Materials by 204.8% in the fourth quarter. CloudAlpha Capital Management Limited Hong Kong now owns 140,773 shares of the manufacturing equipment provider's stock valued at $36,177,000 after acquiring an additional 94,587 shares during the period. Covestor Ltd boosted its stake in Applied Materials by 7.2% in the fourth quarter. Covestor Ltd now owns 697 shares of the manufacturing equipment provider's stock valued at $179,000 after acquiring an additional 47 shares during the period. Finally, Muirfield Wealth Advisors LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $274,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials News Roundup

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

• Positive Sentiment: Applied Materials announced that Broadcom will join its EPIC innovation platform to accelerate advanced chip packaging R&D for next-generation AI systems, reinforcing AMAT’s position in a key growth area. Applied Materials Announces Broadcom as EPIC Innovation Partner
• Positive Sentiment: AMAT was named to Zacks’ Rank #1 momentum stock list, suggesting strong near-term trader interest and favorable earnings momentum. Best Momentum Stocks to Buy for May 20th
• Positive Sentiment: Commentary on AMAT’s latest results highlighted strong AI demand, better-than-expected revenue and EPS, and raised guidance, which supports the stock’s bullish setup. AMAT Q1 Deep Dive: AI Demand Drives Growth in Semiconductor Equipment and Services
• Positive Sentiment: Analysts also pointed to rising operating leverage, margins at a 25-year high, and recurring services revenue as reasons the stock could keep benefiting from AI capex spending. Applied Materials Gains From Rising Operating Leverage: What's Ahead?
• Neutral Sentiment: Applied Energy Systems received a Supplier Excellence Award from Applied Materials, a positive supplier-management signal but not a major direct catalyst for AMAT’s earnings outlook. Applied Energy Systems Receives Supplier Excellence Award from Applied Materials
• Neutral Sentiment: Several articles framed AMAT as an attractive way to play AI infrastructure spending versus peers such as Lam Research, which is supportive for sentiment but largely commentary. Lam Research vs. Applied Materials: Which AI Chip Stock Has the Edge?
• Negative Sentiment: The semiconductor group also saw some pressure from broader sector weakness tied to supply-chain concerns, including Samsung labor-strike headlines and a TSMC stake sale, which could briefly weigh on AMAT sentiment. MACOM, Applied Materials, and Photronics Shares Are Falling, What You Need To Know
• Negative Sentiment: Morgan Stanley reportedly cut its view on Applied Materials, which is a modest overhang even as other analysts remain upbeat. Morgan Stanley downgrades Applied Materials (AMAT)

Analysts Set New Price Targets

AMAT has been the topic of a number of research reports. Bank of America increased their price target on Applied Materials from $465.00 to $540.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Jefferies Financial Group increased their target price on Applied Materials from $415.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Stifel Nicolaus set a $530.00 target price on Applied Materials in a research note on Friday, May 15th. Argus upped their price target on shares of Applied Materials from $420.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, HSBC assumed coverage on shares of Applied Materials in a report on Friday, May 8th. They issued a "buy" rating and a $517.00 price objective on the stock. Twenty-seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Applied Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $465.14.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 534 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $379.16, for a total transaction of $202,471.44. Following the completion of the transaction, the chief accounting officer directly owned 4,625 shares of the company's stock, valued at approximately $1,753,615. This trade represents a 10.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judy Bruner sold 3,969 shares of Applied Materials stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $377.02, for a total value of $1,496,392.38. Following the transaction, the director owned 28,589 shares in the company, valued at approximately $10,778,624.78. This trade represents a 12.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,003 shares of company stock worth $2,678,139 in the last quarter. Company insiders own 0.30% of the company's stock.

Applied Materials Trading Up 4.9%

NASDAQ:AMAT opened at $426.85 on Thursday. Applied Materials, Inc. has a 1 year low of $153.47 and a 1 year high of $448.45. The stock has a market cap of $338.75 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 1.15 and a beta of 1.66. The business has a fifty day moving average of $383.84 and a 200-day moving average of $323.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.80 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $2.86 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.18. The business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $7.68 billion. Applied Materials had a net margin of 29.31% and a return on equity of 36.97%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.39 earnings per share. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. Equities analysts predict that Applied Materials, Inc. will post 11.93 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.5%. This is a boost from Applied Materials's previous quarterly dividend of $0.46. The ex-dividend date is Thursday, May 21st. Applied Materials's payout ratio is 17.28%.

Applied Materials Company 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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