Cullinan Associates Inc. Has $17.59 Million Stake in Applied Materials, Inc. $AMAT

Key Points

• Cullinan Associates Inc. trimmed its Applied Materials stake by 12.8% in the first quarter, selling 7,527 shares and leaving it with 51,461 shares worth about $17.6 million.
• Applied Materials reported stronger-than-expected quarterly results, with EPS of $2.86 and revenue of $7.91 billion, and issued Q3 2026 guidance of $3.16 to $3.56 per share.
• The company also announced a quarterly dividend of $0.53 per share, while analysts remain generally upbeat, with a consensus rating of Moderate Buy and an average price target of $589.48.

Cullinan Associates Inc. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,461 shares of the manufacturing equipment provider's stock after selling 7,527 shares during the period. Applied Materials makes up 1.4% of Cullinan Associates Inc.'s holdings, making the stock its 17th largest position. Cullinan Associates Inc.'s holdings in Applied Materials were worth $17,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Applied Materials by 28.0% during the fourth quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock worth $2,061,000 after buying an additional 2,771 shares during the period. Sivia Capital Partners LLC raised its position in Applied Materials by 26.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,225 shares of the manufacturing equipment provider's stock valued at $590,000 after buying an additional 679 shares during the last quarter. Forefront Wealth Partners LLC acquired a new stake in Applied Materials in the 2nd quarter valued at approximately $410,000. Schnieders Capital Management LLC. lifted its stake in Applied Materials by 30.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 15,003 shares of the manufacturing equipment provider's stock valued at $2,747,000 after acquiring an additional 3,469 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Applied Materials by 59.3% during the 2nd quarter. Sei Investments Co. now owns 422,694 shares of the manufacturing equipment provider's stock worth $77,383,000 after acquiring an additional 157,426 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Stock Up 2.4%

Shares of NASDAQ:AMAT traded up $13.84 during midday trading on Friday, hitting $602.50. The stock had a trading volume of 6,270,022 shares, compared to its average volume of 12,077,411. Applied Materials, Inc. has a 12 month low of $154.46 and a 12 month high of $739.67. The company has a quick ratio of 1.80, a current ratio of 2.51 and a debt-to-equity ratio of 0.22. The business's 50-day simple moving average is $517.90 and its 200-day simple moving average is $402.29. The company has a market cap of $478.36 billion, a P/E ratio of 56.57, a PEG ratio of 1.67 and a beta of 1.57.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.18. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.68 billion. Applied Materials had a net margin of 29.31% and a return on equity of 36.97%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.39 earnings per share. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. On average, sell-side analysts forecast that Applied Materials, Inc. will post 12.13 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, August 20th. Applied Materials's dividend payout ratio is presently 19.91%.

More Applied Materials News

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

• Positive Sentiment: Applied Materials rallied after CEO Gary Dickerson said chipmakers have “tremendous visibility” into demand, implying the AI investment cycle could support equipment orders for years rather than quarters. Applied Materials (AMAT) Stock Jumps after CEO Says AI Chip Demand Has Years to Run
• Positive Sentiment: Meta Platforms’ reported plan to begin manufacturing an in-house AI chip helped spark a broader rally in semiconductor equipment stocks, including Applied Materials, on expectations that AI infrastructure spending will remain strong. Applied Materials stock jumps as Meta AI chip plan lifts semiconductor names
• Positive Sentiment: Stifel and Needham both raised their price targets on AMAT and kept buy ratings, reinforcing the view that improving fundamentals and AI-driven demand could support further upside. Applied Materials PT Raised to $650 at Stifel
• Neutral Sentiment: Applied Materials was removed from several Russell value-oriented indices in late June, a classification change that reflects the stock’s shift toward being viewed more as an AI/semiconductor growth name than a value stock. How Investors Are Reacting To Applied Materials (AMAT) Being Dropped From Key Russell Value Indices
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 10, offering little evidence of bearish positioning from the latest filing.

Insiders Place Their Bets

In other Applied Materials news, CEO Gary E. Dickerson sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $735.22, for a total value of $14,704,400.00. Following the sale, the chief executive officer owned 1,599,843 shares in the company, valued at $1,176,236,570.46. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy M. Deane sold 8,621 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $590.76, for a total value of $5,092,941.96. Following the completion of the sale, the senior vice president directly owned 134,631 shares of the company's stock, valued at approximately $79,534,609.56. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,088 shares of company stock worth $169,654,805 in the last three months. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Applied Materials from $450.00 to $550.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. HSBC began coverage on shares of Applied Materials in a research report on Friday, May 8th. They issued a "buy" rating and a $517.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $400.00 to $515.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Susquehanna increased their price objective on shares of Applied Materials from $575.00 to $900.00 and gave the stock a "positive" rating in a research note on Tuesday, June 30th. Finally, Wolfe Research raised their price objective on Applied Materials from $500.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $589.48.

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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