Coatue Management Reduces $407M in Applied Materials, Inc. ($AMAT)
Coatue Management cut its position in Applied Materials by 12.3%, reflecting in the latest 13F filing.
Key Points
- Coatue Management reduced its holdings in Applied Materials by 736,130 shares, bringing its total to 5,248,202 shares as of the latest filing.
- Applied Materials, Inc. has a market cap of $450.4 billion, a P/E ratio of 53.46, and its shares recently traded at $552.50.
- Analysts maintain a strong buy consensus for AMAT, with recent price targets ranging from $500 to $650.
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Coatue Management has reduced its stake in Applied Materials, Inc. (NasdaqGS: AMAT) according to its latest 13F filing with the SEC, reflecting holdings as of the reporting period. The firm cut its position by 736,130 shares, a 12.3% decrease, leaving it with 5,248,202 shares valued at approximately $2.9 billion.
What Changed in Coatue Management's Applied Materials Position
Coatue Management trimmed its holdings in Applied Materials from 5,984,332 shares to 5,248,202 shares, a reduction of 736,130 shares. This cut represents a 12.3% decrease in their stake, with the remaining shares valued at about $2.9 billion based on the recent share price.
Other Institutional Activity in Applied Materials
In the same period, BlackRock, Inc. increased its holdings in Applied Materials by 3,715,744 shares, bringing its total to 78,974,833 shares worth about $26.99 billion. Vanguard Capital Management LLC added 51,577,799 shares, reaching a total of 51,577,799 shares valued at $17.63 billion. Meanwhile, State Street Corp reduced its position by 423,673 shares to 37,506,950 shares valued at $12.82 billion. Capital Research Global Investors also trimmed its stake by 3,251,625 shares, ending with 29,455,424 shares worth $10.07 billion. Geode Capital Management, LLC increased its holdings by 3,313,100 shares, totaling 21,921,798 shares valued at $7.48 billion.
Applied Materials, Inc. Stock Up 19.7%
Shares of Applied Materials (NasdaqGS: AMAT) recently traded around $552.50. The company has a market capitalization of $450.4 billion and a P/E ratio of 53.46. Its forward P/E is 34.89, with a beta of 1.672, indicating higher volatility compared to the broader market. Applied Materials' stock has seen a 52-week low of $154.47 and a high of $569.92. The 50-day moving average is $422.94, while the 200-day moving average is $307.22.
$AMAT stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Applied Materials reported revenue of $29.02 billion, with a revenue growth of 11.4%. The company's net margin stands at 29.31%, and it achieved a return on equity of 39.69%. The next earnings report is scheduled for August 13, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
20 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.9%. Revenue beat estimates by 12.9%.
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Profit surprise
EBITDA beat by 52 percent. Operating income beat by 24 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
20 target raises.
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Earnings quality
Gross margin up 0.8 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Applied Materials delivered record revenue of $7.91 billion this quarter driven by strong artificial intelligence infrastructure demand. The company sees its highest gross margin in over 25 years at 50 percent. Management highlighted that artificial intelligence is diversifying beyond training into new areas like agentic applications, which increases demand for memory and processors, and they expect continued strong growth into 2027 and beyond as customers build new factories.
Guidance Applied expects about $8.95 billion in revenue next quarter, up nearly 23 percent from last year. The company expects earnings per share of $3.36, up nearly 36 percent. Management raised its full-year equipment growth outlook to more than 30 percent as artificial intelligence demand accelerates and customers add production capacity.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend
Applied Materials offers a dividend rate of $2.12 per share, yielding 0.38%. The payout ratio is 17.31%, reflecting a conservative approach to dividend distribution.
Insider Buying and Selling at Applied Materials, Inc.
Recent insider transactions include sales by Raja Prabu, President of the Semiconductor Products Group, who sold 50,000 shares at an average price of $505.28 on June 4, 2026. SVP and CFO Brice Hill sold 2,500 shares at $498.86 on June 3, 2026. Other sales include Judy Bruner selling 1,128 shares at $450.00 on May 26, 2026, and Adam Sanders, Corporate Controller & CAO, selling 268 shares at $434.22 on May 22, 2026.
Analysts Set New Price Targets
On June 11, 2026, Barclays maintained a buy rating on AMAT with a price target of $590. UBS also maintained a buy rating on June 10, 2026, with a target of $570. Cantor Fitzgerald set a target of $650 on the same day, while Mizuho maintained a $540 target on May 27, 2026. The consensus among analysts remains strong buy, with a mean price target of $517.28.
About Applied Materials
Applied Materials, Inc., headquartered in Santa Clara, California, provides engineering solutions and equipment to the semiconductor industry. The company operates through two main segments: Semiconductor Systems and Applied Global Services. It serves customers worldwide, including the United States, Asia, and Europe, under the leadership of CEO Gary E. Dickerson. With about 36,400 employees, Applied Materials plays a crucial role in the production of semiconductor wafers and chips.
Bottom Line
Coatue Management's recent reduction in its Applied Materials position reflects its strategic portfolio adjustments as reported in its 13F filing. Investors keep a close eye on these filings to gauge the sentiment of major institutional investors. Applied Materials continues to be a significant player in the semiconductor industry, with strong analyst support and a robust market presence.
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