PNC Financial Services Group Inc. Acquires 3,463 Shares of Applied Materials, Inc. $AMAT

Key Points

• PNC Financial Services Group increased its Applied Materials stake by 0.7% in Q4, adding 3,463 shares to bring its total holdings to 498,238 shares worth about $128.0 million.
• Applied Materials reported better-than-expected Q2 results, with EPS of $2.86 and revenue of $7.91 billion, while also issuing Q3 guidance above many expectations. The company said AI-related demand remains a major growth driver.
• Analyst sentiment remains broadly positive, with multiple firms raising price targets and the stock receiving a Moderate Buy consensus. The company also boosted its quarterly dividend to $0.53 per share, up from $0.46.

PNC Financial Services Group Inc. increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,238 shares of the manufacturing equipment provider's stock after acquiring an additional 3,463 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Applied Materials worth $128,042,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Applied Materials during the third quarter valued at approximately $26,000. Highline Wealth Partners LLC raised its position in Applied Materials by 48.7% in the 4th quarter. Highline Wealth Partners LLC now owns 116 shares of the manufacturing equipment provider's stock valued at $30,000 after buying an additional 38 shares during the last quarter. Joseph Group Capital Management purchased a new stake in Applied Materials in the 4th quarter valued at $31,000. Dogwood Wealth Management LLC lifted its stake in Applied Materials by 52.4% during the 4th quarter. Dogwood Wealth Management LLC now owns 128 shares of the manufacturing equipment provider's stock valued at $33,000 after acquiring an additional 44 shares in the last quarter. Finally, IMG Wealth Management Inc. boosted its holdings in Applied Materials by 147.2% during the 4th quarter. IMG Wealth Management Inc. now owns 131 shares of the manufacturing equipment provider's stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Key Applied Materials News

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)

Insider Buying and Selling at Applied Materials

In other news, Director Judy Bruner sold 2,500 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $391.71, for a total value of $979,275.00. Following the completion of the transaction, the director directly owned 26,089 shares of the company's stock, valued at $10,219,322.19. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Adam Sanders sold 534 shares of Applied Materials stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $379.16, for a total value of $202,471.44. Following the completion of the transaction, the chief accounting officer owned 4,625 shares of the company's stock, valued at approximately $1,753,615. This trade represents a 10.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,003 shares of company stock worth $2,678,139. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

AMAT has been the subject of several analyst reports. Bank of America increased their target price on shares of Applied Materials from $465.00 to $540.00 and gave the company a "buy" rating in a report on Friday, May 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Applied Materials in a report on Friday, March 27th. Stifel Nicolaus set a $530.00 price objective on shares of Applied Materials in a research report on Friday, May 15th. Needham & Company LLC increased their price objective on shares of Applied Materials from $440.00 to $530.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, Argus lifted their target price on shares of Applied Materials from $420.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday. Twenty-seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $465.14.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $426.85 on Thursday. The firm has a market capitalization of $338.75 billion, a PE ratio of 40.08, a P/E/G ratio of 1.15 and a beta of 1.66. 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 company has a 50-day moving average price of $383.84 and a two-hundred day moving average price of $323.95. Applied Materials, Inc. has a twelve month low of $153.47 and a twelve month high of $448.45.

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, beating the consensus estimate of $2.68 by $0.18. The company 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 quarter in the previous year, the firm posted $2.39 earnings per share. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. Equities analysts forecast that Applied Materials, Inc. will post 11.93 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. This is a positive change from Applied Materials's previous quarterly dividend of $0.46. Applied Materials's payout ratio is presently 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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