SVB Wealth LLC Cuts Stock Holdings in Applied Materials, Inc. $AMAT

Key Points

• SVB Wealth LLC reduced its Applied Materials stake by 29.8% in the second quarter, selling 7,113 shares and retaining 16,760 shares valued at approximately $12.1 million.
• Applied Materials reported quarterly earnings of $3.50 per share and revenue of $9.12 billion, exceeding analyst expectations, while revenue rose 24.8% year over year.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $658.45, despite recent insider selling and a share price of $472.79.

SVB Wealth LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 29.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,760 shares of the manufacturing equipment provider's stock after selling 7,113 shares during the period. Applied Materials comprises about 0.7% of SVB Wealth LLC's portfolio, making the stock its 28th biggest holding. SVB Wealth LLC's holdings in Applied Materials were worth $12,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMAT. California State Teachers Retirement System increased its holdings in Applied Materials by 70,976.9% in the second quarter. California State Teachers Retirement System now owns 870,192,678 shares of the manufacturing equipment provider's stock valued at $629,149,306,000 after buying an additional 868,968,380 shares in the last quarter. BlackRock Inc. grew its position in shares of Applied Materials by 1.6% during the 2nd quarter. BlackRock Inc. now owns 80,212,518 shares of the manufacturing equipment provider's stock valued at $57,993,650,000 after acquiring an additional 1,237,685 shares during the period. Capital Research Global Investors grew its position in shares of Applied Materials by 119.8% during the 4th quarter. Capital Research Global Investors now owns 32,707,049 shares of the manufacturing equipment provider's stock valued at $8,405,458,000 after acquiring an additional 17,829,377 shares during the period. Morgan Stanley increased its stake in shares of Applied Materials by 3.4% in the 4th quarter. Morgan Stanley now owns 11,470,835 shares of the manufacturing equipment provider's stock valued at $2,947,891,000 after purchasing an additional 373,012 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Applied Materials in the 4th quarter valued at about $2,858,543,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $472.79 on Wednesday. The stock has a 50 day moving average of $523.44 and a two-hundred day moving average of $462.73. Applied Materials, Inc. has a 12 month low of $161.75 and a 12 month high of $739.67. The firm has a market cap of $375.21 billion, a P/E ratio of 40.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.20.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.10. The business had revenue of $9.12 billion for the quarter, compared to the consensus estimate of $8.99 billion. Applied Materials had a return on equity of 38.02% and a net margin of 30.05%.The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.48 earnings per share. Applied Materials has set its Q4 2026 guidance at 3.820-4.220 EPS. On average, analysts expect that Applied Materials, Inc. will post 12.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Materials

In related news, insider Prabu Raja sold 10,000 shares of Applied Materials stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $633.53, for a total transaction of $6,335,300.00. Following the transaction, the insider owned 346,642 shares in the company, valued at approximately $219,608,106.26. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Iannotti sold 9,250 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $599.77, for a total value of $5,547,872.50. Following the transaction, the director directly owned 40,559 shares in the company, valued at $24,326,071.43. This trade represents a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 231,692 shares of company stock worth $146,114,059. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded Applied Materials from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 25th. Susquehanna boosted their price objective on Applied Materials from $575.00 to $900.00 and gave the company a "positive" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped their target price on Applied Materials from $515.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Stifel Nicolaus increased their target price on Applied Materials from $530.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Zacks Research raised shares of Applied Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $658.45.

About Applied Materials

Applied Materials, Inc is a global provider of materials engineering solutions used to manufacture semiconductors, displays and other advanced electronic products. The company develops and supplies equipment, services and software that help customers build and improve the performance of chips and display panels.

Its semiconductor products support processes including deposition, etch, patterning, inspection, metrology and materials modification. Applied Materials also provides equipment and services for display manufacturing, including technologies used in producing liquid-crystal and organic light-emitting diode displays, as well as solutions for adjacent markets such as solar and other specialty applications.

Founded in 1967 and headquartered in Santa Clara, California, Applied Materials serves semiconductor and display manufacturers worldwide through operations, customer-support centers and research and development activities across major technology-producing regions.

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