Trustco Bank Corp N Y Sells 2,230 Shares of Applied Materials, Inc. $AMAT

Key Points

• Trustco Bank Corp N.Y. trimmed its Applied Materials stake by 8.0% in Q4, selling 2,230 shares and leaving it with 25,655 shares valued at about $6.59 million. Applied Materials remains one of the fund’s top holdings, making up roughly 5.9% of its portfolio.
• Wall Street sentiment remains bullish, with multiple analysts raising price targets and several firms reaffirming Buy/Overweight ratings. MarketBeat data shows 27 Buy ratings, 8 Holds, and an average target price of $483.03.
• Applied Materials reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.53 per share. The stock has recently been trading near its 52-week high, reflecting continued investor optimism.

Trustco Bank Corp N Y decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,655 shares of the manufacturing equipment provider's stock after selling 2,230 shares during the quarter. Applied Materials makes up about 5.9% of Trustco Bank Corp N Y's portfolio, making the stock its 4th biggest holding. Trustco Bank Corp N Y's holdings in Applied Materials were worth $6,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMAT. Brighton Jones LLC boosted its position in shares of Applied Materials by 28.0% during the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock valued at $2,061,000 after acquiring an additional 2,771 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Applied Materials by 26.7% in the second 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 position in Applied Materials in the second quarter valued at about $410,000. Schnieders Capital Management LLC. lifted its position in Applied Materials by 30.1% in the second quarter. Schnieders Capital Management LLC. now owns 15,003 shares of the manufacturing equipment provider's stock valued at $2,747,000 after buying an additional 3,469 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Applied Materials by 59.3% in the second quarter. Sei Investments Co. now owns 422,694 shares of the manufacturing equipment provider's stock valued at $77,383,000 after buying an additional 157,426 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMAT. KeyCorp upped their target price on shares of Applied Materials from $450.00 to $550.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Mizuho upped their target price on shares of Applied Materials from $500.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $525.00 target price on shares of Applied Materials in a research report on Friday, May 15th. Wall Street Zen raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, UBS Group upped their target price on shares of Applied Materials from $515.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday. Twenty-seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and an average target price of $483.03.

Insider Activity

In other Applied Materials news, Director Judy Bruner sold 1,128 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $450.00, for a total value of $507,600.00. Following the transaction, the director directly owned 26,544 shares in the company, valued at $11,944,800. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Adam Sanders sold 268 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $434.22, for a total transaction of $116,370.96. Following the completion of the transaction, the chief accounting officer owned 4,280 shares in the company, valued at $1,858,461.60. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,896 shares of company stock worth $27,135,121 in the last ninety days. 0.30% of the stock is owned by insiders.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $567.25 on Monday. The firm's 50 day moving average price is $427.22 and its 200 day moving average price is $353.48. The stock has a market cap of $450.37 billion, a price-to-earnings ratio of 53.26, a price-to-earnings-growth ratio of 1.58 and a beta of 1.67. Applied Materials, Inc. has a fifty-two week low of $154.46 and a fifty-two week high of $569.95. The company has a quick ratio of 1.80, a current ratio of 2.51 and a debt-to-equity ratio of 0.22.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.18. The firm had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $7.68 billion. Applied Materials had a net margin of 29.31% and a return on equity of 36.97%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 earnings per share. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. As a group, equities research analysts predict that Applied Materials, Inc. will post 12.1 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. Investors of record on Thursday, August 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.12 annualized dividend and a yield of 0.4%. Applied Materials's dividend payout ratio (DPR) is 19.91%.

Key Headlines Impacting Applied Materials

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

• Positive Sentiment: Barclays reiterated an Overweight rating on Applied Materials, saying investment in new chip supply remains strong and supporting the stock’s bullish momentum. Applied Materials and KLA Are Surging. Why You Should Buy the Stocks, Says This Analyst.
• Positive Sentiment: Erste Group Bank raised its earnings estimates for Applied Materials, lifting FY2026 EPS forecast to $12.20 and FY2027 to $16.29, while keeping a Buy rating. Applied Materials estimate revision
• Positive Sentiment: Several recent articles highlighted Applied Materials as a top momentum and AI-beneficiary stock, with commentary pointing to strong May performance, heavy hedge fund ownership, and broad analyst support. Is Applied Materials (AMAT) A Good Stock to Buy Now?
• Positive Sentiment: Investor attention is also being fueled by a recent 52-week-high move and reports of continued rotation into chip equipment stocks, reinforcing the view that AMAT remains a favored AI infrastructure name. Why Did AMAT, AMPG, OSCR Stocks Surge To 52-Week Highs Today?
• Neutral Sentiment: Other coverage today was largely repeated “great momentum stock” and “attracting investor attention” pieces, reflecting strong market interest rather than a new company-specific catalyst. Applied Materials (AMAT) is a Great Momentum Stock: Should You Buy?

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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