Cullinan Associates Inc. Sells 2,986 Shares of Applied Materials, Inc. $AMAT

Key Points

• Cullinan Associates Inc. trimmed its stake in Applied Materials by 4.8% in Q4, selling 2,986 shares and now holding 58,988 shares worth $15.159 million (about 1.0% of its portfolio and its 26th largest position).
• Multiple brokerages (including KeyCorp, TD Cowen, Needham and Erste) raised ratings or price targets, leaving a consensus of Moderate Buy with an average target of $368.29.
• Applied Materials beat Q4 estimates (EPS $2.38 vs. $2.21; revenue $7.01B vs. $6.88B), issued Q2 FY2026 guidance of $2.44–$2.84, and raised its quarterly dividend to $0.53, though insider selling and U.S. export restrictions to China represent near-term risks.

Cullinan Associates Inc. trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,988 shares of the manufacturing equipment provider's stock after selling 2,986 shares during the quarter. Applied Materials makes up approximately 1.0% of Cullinan Associates Inc.'s holdings, making the stock its 26th biggest position. Cullinan Associates Inc.'s holdings in Applied Materials were worth $15,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Godsey & Gibb Inc. raised its holdings in shares of Applied Materials by 2.6% during the 4th quarter. Godsey & Gibb Inc. now owns 1,298 shares of the manufacturing equipment provider's stock worth $334,000 after acquiring an additional 33 shares in the last quarter. Family Capital Management Inc. raised its holdings in shares of Applied Materials by 0.8% during the 4th quarter. Family Capital Management Inc. now owns 4,227 shares of the manufacturing equipment provider's stock worth $1,086,000 after acquiring an additional 33 shares in the last quarter. Traveka Wealth LLC raised its holdings in shares of Applied Materials by 2.6% during the 4th quarter. Traveka Wealth LLC now owns 1,404 shares of the manufacturing equipment provider's stock worth $361,000 after acquiring an additional 36 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of Applied Materials by 48.7% during the 4th quarter. Highline Wealth Partners LLC now owns 116 shares of the manufacturing equipment provider's stock worth $30,000 after acquiring an additional 38 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in shares of Applied Materials by 0.9% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 4,096 shares of the manufacturing equipment provider's stock worth $1,053,000 after acquiring an additional 38 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials News Roundup

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

• Positive Sentiment: Erste Group upgraded AMAT to Buy, citing continued AI-driven semiconductor investment and positioning Applied as a primary beneficiary of advanced-node equipment demand. This supports the bull case and likely helps near-term share gains. Erste Group Upgrades Applied Materials
• Positive Sentiment: Erste analysts also nudged FY2026–FY2027 EPS estimates slightly higher (FY2026 to ~$11.08 and FY2027 to ~$14.00), signaling improved earnings trajectory vs. prior forecasts and reinforcing buy-side interest. (Market commentary)
• Positive Sentiment: Jim Cramer mentioned AMAT as one of the attractive capex-exposed names on Mad Money, increasing retail/institutional visibility and potentially lifting demand from momentum traders. Jim Cramer Considers Applied Materials
• Neutral Sentiment: Recent valuation checks and coverage note that AMAT has outperformed YTD and over recent months; investors are reassessing valuation vs. growth, which could support further multiple expansion if growth persists or cap expectations cool if not. Applied Materials Valuation Check
• Neutral Sentiment: AMAT remains a trending stock on investor screens (coverage from Zacks highlights interest drivers and risks) — increased attention can amplify moves both directions. Zacks: Why AMAT is Trending
• Negative Sentiment: The U.S. Commerce Department ordered restrictions that pause certain tool shipments to Chinese foundry Hua Hong, increasing regulatory risk and potential near-term revenue pressure from China exposure. This is the primary near-term headwind to watch. US Export Curbs On Hua Hong
• Negative Sentiment: Zacks downgraded AMAT from "strong-buy" to "hold", which could temper some buy-side momentum and suggests caution among certain retail-focused analysts. Zacks Downgrade

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMAT. KGI Securities raised Applied Materials to an "outperform" rating and set a $425.00 price objective on the stock in a report on Friday, February 13th. KeyCorp upped their price objective on Applied Materials from $380.00 to $450.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Erste Group Bank raised Applied Materials from a "hold" rating to a "buy" rating in a report on Monday. Needham & Company LLC upped their price objective on Applied Materials from $390.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Finally, TD Cowen upped their price objective on Applied Materials from $315.00 to $450.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Twenty-seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.29.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $394.49 on Friday. The stock's fifty day moving average is $368.64 and its 200 day moving average is $305.94. Applied Materials, Inc. has a fifty-two week low of $148.74 and a fifty-two week high of $420.50. The firm has a market capitalization of $313.07 billion, a PE ratio of 40.38, a PEG ratio of 1.71 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.94 and a current ratio of 2.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.17. Applied Materials had a return on equity of 37.52% and a net margin of 27.78%.The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. Applied Materials's quarterly revenue was down 2.1% compared to the same quarter last year. Applied Materials has set its Q2 2026 guidance at 2.440-2.840 EPS. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 11.11 earnings per share for the current year.

Applied Materials Increases Dividend

The firm 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. This is a boost from Applied Materials's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.12 annualized dividend and a yield of 0.5%. Applied Materials's dividend payout ratio is currently 18.83%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 534 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $379.16, for a total value of $202,471.44. Following the transaction, the chief accounting officer owned 4,625 shares of the company's stock, valued at $1,753,615. This represents a 10.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Judy Bruner sold 3,969 shares of the company's 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 completion of the transaction, the director directly owned 28,589 shares in the company, valued at $10,778,624.78. This trade represents a 12.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,003 shares of company stock valued at $4,484,189 in the last quarter. 0.30% of the stock is owned by insiders.

About Applied Materials

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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