Cullinan Associates Inc. Has $11.68 Million Stake in Applied Materials, Inc. $AMAT

Key Points

• Cullinan Associates Inc. reduced its stake in Applied Materials, owning 63,823 shares worth approximately $11.68 million, after selling 1,157 shares in the second quarter.
• Applied Materials reported an EPS of $2.48 for the last quarter, exceeding analysts' estimates of $2.36, with revenue growth of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.46 per share, with a payout ratio of 21.93% and a dividend yield of 0.8%.

Cullinan Associates Inc. reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,823 shares of the manufacturing equipment provider's stock after selling 1,157 shares during the quarter. Cullinan Associates Inc.'s holdings in Applied Materials were worth $11,684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of Applied Materials during the 1st quarter worth approximately $1,085,600,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Applied Materials during the 2nd quarter worth about $882,396,000. Pacer Advisors Inc. grew its position in shares of Applied Materials by 2,401.0% in the first quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock valued at $445,056,000 after purchasing an additional 2,944,193 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Applied Materials by 43.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,573,673 shares of the manufacturing equipment provider's stock worth $808,853,000 after purchasing an additional 1,691,428 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Applied Materials by 23.6% in the first quarter. Ameriprise Financial Inc. now owns 7,860,838 shares of the manufacturing equipment provider's stock worth $1,140,836,000 after purchasing an additional 1,502,995 shares during the period. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Down 2.7%

AMAT stock opened at $217.53 on Monday. The stock's 50 day simple moving average is $179.50 and its 200 day simple moving average is $169.52. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $226.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.76 and a current ratio of 2.50. The company has a market cap of $173.29 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. Applied Materials had a return on equity of 40.96% and a net margin of 23.88%.The firm had revenue of $7.30 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. On average, research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. Applied Materials's payout ratio is presently 21.93%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic downgraded shares of Applied Materials from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $225.00 to $200.00 in a research note on Monday, July 7th. Wells Fargo & Company dropped their price objective on shares of Applied Materials from $215.00 to $205.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $225.00 target price on shares of Applied Materials in a research note on Friday. UBS Group lowered their price target on shares of Applied Materials from $185.00 to $180.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Finally, Wall Street Zen cut Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Seventeen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.12.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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