Engineers Gate Manager LP Sells 31,299 Shares of Applied Materials, Inc. $AMAT

Engineers Gate Manager LP cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 36.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,510 shares of the manufacturing equipment provider’s stock after selling 31,299 shares during the period. Applied Materials accounts for about 0.5% of Engineers Gate Manager LP’s portfolio, making the stock its 24th biggest position. Engineers Gate Manager LP’s holdings in Applied Materials were worth $40,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Cornerstone Financial Management LLC bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $25,000. Wilkerson Advisory Group LLC bought a new stake in Applied Materials in the fourth quarter worth $26,000. Harborfront Financial Group LLC bought a new stake in Applied Materials in the second quarter worth $27,000. Financial Freedom LLC purchased a new position in Applied Materials during the first quarter worth $28,000. Finally, Orion Capital Management LLC purchased a new position in Applied Materials during the second quarter worth $33,000. 80.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Applied Materials

In related news, CEO Gary Dickerson sold 71,727 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $593.75, for a total value of $42,587,906.25. Following the completion of the sale, the chief executive officer directly owned 1,695,164 shares of the company’s stock, valued at $1,006,503,625. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy M. Deane sold 8,621 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $590.76, for a total transaction of $5,092,941.96. Following the transaction, the senior vice president owned 134,631 shares in the company, 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. In the last ninety days, insiders have sold 231,692 shares of company stock worth $146,114,059. Insiders own 0.30% of the company’s stock.

Applied Materials Stock Up 4.0%

Shares of NASDAQ AMAT opened at $472.79 on Wednesday. Applied Materials, Inc. has a 52-week low of $161.75 and a 52-week high of $739.67. The firm has a market capitalization of $375.21 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 1.27 and a beta of 1.60. The stock has a 50 day moving average price of $523.44 and a 200 day moving average price of $462.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.79 and a current ratio of 2.42.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 13th. The manufacturing equipment provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.40 by $0.10. The company 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%.Applied Materials’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the business posted $2.48 EPS. Applied Materials has set its Q4 2026 guidance at 3.820-4.220 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 12.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMAT. Sanford C. Bernstein increased their target price on shares of Applied Materials from $675.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Susquehanna lifted their price target 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. Royal Bank Of Canada upped their price target on shares of Applied Materials from $520.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Applied Materials in a research report on Friday, August 14th. Finally, Wall Street Zen raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.