Applied Materials, Inc. $AMAT Stock Sold by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel reduced its Applied Materials position by 3.2%, selling 3,613 shares and retaining 108,067 shares valued at approximately $55.3 million. Institutional investors collectively own 80.56% of AMAT.
• Analysts remain generally bullish, with 30 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $632.70. However, recent ETF selling and valuation concerns have contributed to pressure on the stock.
• Applied Materials reported strong results, with quarterly revenue up 24.8% year over year to $9.12 billion and EPS of $3.50, beating estimates. The company also declared a quarterly dividend of $0.53 per share, equivalent to a 0.5% annual yield.

Carnegie Investment Counsel trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,067 shares of the manufacturing equipment provider's stock after selling 3,613 shares during the period. Applied Materials comprises about 1.0% of Carnegie Investment Counsel's holdings, making the stock its 21st largest position. Carnegie Investment Counsel's holdings in Applied Materials were worth $55,263,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in Applied Materials by 85.4% during the second quarter. State Street Corp now owns 69,525,842 shares of the manufacturing equipment provider's stock valued at $50,267,184,000 after buying an additional 32,018,892 shares during the period. Bank of America Corp DE bought a new stake in shares of Applied Materials during the 2nd quarter valued at about $5,252,863,000. Jupiter Topco LLC purchased a new position in Applied Materials in the second quarter worth $1,512,287,000. Amundi boosted its stake in Applied Materials by 19.0% in the second quarter. Amundi now owns 7,808,207 shares of the manufacturing equipment provider's stock worth $5,645,344,000 after buying an additional 1,246,876 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Applied Materials by 1.6% during the second quarter. BlackRock Inc. now owns 80,212,518 shares of the manufacturing equipment provider's stock worth $57,993,650,000 after acquiring an additional 1,237,685 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Trending Headlines about Applied Materials

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

• Positive Sentiment: Industry research projects the global e-beam wafer-inspection systems market will expand from $1.3 billion in 2024 to $3.6 billion by 2030. Increasingly complex semiconductor nodes, higher yield requirements and AI-driven data processing could support long-term demand for Applied Materials’ inspection-related equipment. E-Beam Wafer Inspection Systems Market Forecasts Growth
• Positive Sentiment: Applied Materials was recognized as a 2027 Conference Board Innovation Awards honoree, highlighting its technology development efforts, although the award is unlikely to materially affect near-term earnings. The Conference Board Announces Innovation Awards Honorees
• Neutral Sentiment: Analyst commentary remains broadly constructive: some firms continue raising earnings estimates and maintain price targets substantially above the current level. However, other analysis questions whether the company’s AI growth opportunity is already priced in after its strong one-year performance. Applied Materials Cratered 20% Since July
• Negative Sentiment: Applied Materials experienced approximately $58.8 million in net ETF selling on October 15, adding technical pressure and potentially contributing to the latest weakness. Applied Materials Sees Net ETF Selling
• Negative Sentiment: The decline occurred despite broader market gains, indicating investors may be locking in gains and reassessing AMAT’s elevated valuation following its strong advance. Recent results were solid—revenue rose 24.8% year over year and EPS exceeded consensus—but those positives may already be reflected in the share price. Applied Materials Stock Sinks as Market Gains

Insider Buying and Selling at Applied Materials

In other news, Director Judy Bruner sold 1,000 shares of Applied Materials stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $465.00, for a total value of $465,000.00. Following the sale, the director directly owned 25,544 shares in the company, valued at approximately $11,877,960. This trade represents a 3.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam Sanders sold 725 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $544.56, for a total value of $394,806.00. Following the transaction, the chief accounting officer directly owned 3,181 shares in the company, valued at $1,732,245.36. This trade represents a 18.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 9,225 shares of company stock valued at $4,454,181 in the last 90 days. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMAT shares. Weiss Ratings lowered shares of Applied Materials from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 9th. Citigroup reaffirmed a "buy" rating and set a $710.00 target price (up from $550.00) on shares of Applied Materials in a report on Monday, August 3rd. William Blair began coverage on shares of Applied Materials in a research report on Tuesday, August 11th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Applied Materials from $515.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company boosted their price target on shares of Applied Materials from $715.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Thirty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $632.70.

Applied Materials Stock Down 2.0%

Shares of Applied Materials stock opened at $404.98 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.79 and a current ratio of 2.42. Applied Materials, Inc. has a 52-week low of $203.40 and a 52-week high of $739.67. The stock has a market capitalization of $321.39 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 1.15 and a beta of 1.60. The company's 50 day moving average price is $475.93 and its 200-day moving average price is $487.09.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.40 by $0.10. The company had revenue of $9.12 billion for the quarter, compared to the consensus estimate of $8.99 billion. Applied Materials had a net margin of 30.05% and a return on equity of 38.02%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.48 earnings per share. Applied Materials has set its Q4 2026 guidance at 3.820-4.220 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 12.79 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.12 dividend on an annualized basis and a yield of 0.5%. Applied Materials's dividend payout ratio is presently 18.28%.

About Applied Materials

Applied Materials, Inc is a technology company that supplies equipment, services and software used to manufacture semiconductors and advanced displays. Its products help customers fabricate the integrated circuits and other components used in computers, mobile devices, data centers, automobiles and a range of connected technologies.

The company's offerings include systems for materials engineering, wafer fabrication, inspection and process control, along with equipment and services designed to improve manufacturing productivity and yield.

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