Summit Wealth Group LLC Co. Sells 3,426 Shares of Applied Materials, Inc. $AMAT

Summit Wealth Group LLC Co. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 59.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,359 shares of the manufacturing equipment provider’s stock after selling 3,426 shares during the period. Summit Wealth Group LLC Co.’s holdings in Applied Materials were worth $606,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMAT. Brighton Jones LLC increased its position in Applied Materials by 28.0% during the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock worth $2,061,000 after buying an additional 2,771 shares during the period. Sivia Capital Partners LLC increased its position in Applied Materials by 26.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,225 shares of the manufacturing equipment provider’s stock worth $590,000 after buying an additional 679 shares during the period. Forefront Wealth Partners LLC bought a new position in Applied Materials during the 2nd quarter worth $410,000. Schnieders Capital Management LLC. increased its position in Applied Materials by 30.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 15,003 shares of the manufacturing equipment provider’s stock worth $2,747,000 after buying an additional 3,469 shares during the period. Finally, Sei Investments Co. increased its position in shares of Applied Materials by 59.3% in the second quarter. Sei Investments Co. now owns 422,694 shares of the manufacturing equipment provider’s stock worth $77,383,000 after purchasing an additional 157,426 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials News Roundup

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

• Positive Sentiment: Citigroup reportedly raised its price target on Applied Materials, adding to a cluster of analyst upgrades that point to confidence in the company’s AI-chip exposure and earnings outlook. Citi massively revamps Applied Materials stock price target
• Positive Sentiment: Analysts are highlighting strong demand in DRAM and logic, with Applied Materials’ semiconductor systems business benefiting from foundry and AI infrastructure spending ahead of earnings. AMAT’s Q2 Results to Benefit From Traction in DRAM and Logic
• Positive Sentiment: New coverage and commentary continue to frame AMAT as a key AI infrastructure winner, with articles and TV mentions emphasizing a semiconductor equipment shortage and Applied Materials’ deepening role in chip manufacturing. How Applied Materials (AMAT) Is Deepening Its Role in AI Chip Manufacturing
• Neutral Sentiment: Investors are watching Thursday’s earnings closely, with several previews suggesting the stock could make a big move depending on whether results and guidance confirm the AI-driven rally. Dear Applied Materials Stock Fans, Mark Your Calendars for May 14
• Negative Sentiment: One broader market warning from a top chartist said U.S. tech stocks are at their highest concentration since the 2000 bubble, a reminder that AMAT’s recent strength could face valuation and sentiment risk if the AI trade cools. Wall Street’s Top Chartist Warns US Tech Stocks Now At Highest Concentration Since the 2000 Bubble

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMAT shares. Zacks Research cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Mizuho raised their price target on Applied Materials from $370.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Seaport Research Partners started coverage on Applied Materials in a research report on Monday, May 4th. They issued a “buy” rating and a $500.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Applied Materials in a research report on Friday, March 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $500.00 price target on shares of Applied Materials in a research report on Tuesday. Twenty-eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $384.52.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $436.61 on Thursday. The stock’s 50-day simple moving average is $375.73 and its 200 day simple moving average is $317.13. The firm has a market capitalization of $346.50 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 1.91 and a beta of 1.66. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a twelve month low of $153.47 and a twelve month high of $448.45.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data 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. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.88 billion. Applied Materials had a return on equity of 37.52% and a net margin of 27.78%.Applied Materials’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 11.16 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.5%. 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. Applied Materials’s payout ratio is 18.83%.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 534 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $379.16, for a total value of $202,471.44. Following the sale, the chief accounting officer directly owned 4,625 shares of the company’s stock, valued at $1,753,615. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice Hill sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $361.21, for a total value of $1,806,050.00. Following the completion of the sale, the chief financial officer directly owned 138,565 shares in the company, valued at $50,051,063.65. This trade represents a 3.48% decrease in their ownership of the stock. 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 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

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.