Bank of America 13F: Cuts Applied Materials (AMAT) Stake by $820M

Bank of America Scales Back Its Applied Materials Position

Bank of America lowered its exposure to Applied Materials, Inc. (NasdaqGS: AMAT) by cutting 1,483,627 shares from its portfolio. The adjustment, revealed in a recent Form 13F filing with the Securities and Exchange Commission, brought the bank's total holding down to 5,385,603 shares. At the close of the reporting window, that remaining stake carried a value of roughly $2.98 billion.

How the Reduction Played Out in the Quarter

During the filing period, Bank of America trimmed its stake by 21.6%, stepping back from its prior position of 6,869,230 shares. Because 13F filings look backward at past institutional holdings, this snapshot reflects portfolio choices made as of May 18, 2026, and may not represent the bank's exact share count today. Institutional adjustments of this size are common as large asset managers rebalance sector weights.

Stock Performance and Recent Market Moves

Shares of Applied Materials trade around $552.50, reflecting significant gains over the past year. The stock sits well above its 50-day moving average of $498.35 and its 200-day moving average of $417.26. Over the past fifty-two weeks, the chip equipment maker has traded between a low of $196.20 and a high of $739.67, driven by high demand for advanced semiconductor manufacturing tools.

Strong Financial Results and Profitability

The company posted $30.84 billion in revenue over the trailing period, accompanied by a 24.8% revenue growth rate. Profitability remains high, shown by a net margin of 30.1% and a return on equity of 41.1%. Applied Materials pays an annual dividend rate of $2.12 per share, yielding 0.48% with a low payout ratio of 16.5%. Investors look ahead to the next earnings report scheduled for November 12, 2026.

Wall Street Analyst Coverage and Price Targets

Analyst firms continue to monitor the semiconductor equipment provider closely. On October 16, 2026, Needham maintained its Buy rating while lowering its price target to $580.00. A day earlier, Evercore ISI Group kept an Outperform rating with a $590.00 target. RBC Capital reiterated an Outperform rating with a $600.00 target on October 14, 2026, while Morgan Stanley maintained an Equal-Weight rating with a $563.00 target on September 28, 2026. Earlier in the autumn, Mizuho maintained an Outperform rating with a $590.00 target on August 25, 2026, and UBS kept a Buy rating with a $675.00 target on August 14, 2026. Argus Research maintained a Buy rating and raised its target to $600.00 on August 18, 2026. Overall, the stock carries a strong buy consensus across thirty-five analyst opinions with a mean price target of $640.89.

Understanding Applied Materials and Its Market Role

Headquartered in Santa Clara, California, Applied Materials provides essential equipment, services, and software used to manufacture semiconductor chips globally. Its technology enables chipmakers to etch, deposit, and inspect microscopic circuits on silicon wafers. As chip complexity grows, the firm plays a central role in supplying hardware for major technology manufacturers.

What to Watch Next for Shareholders

Investors will want to track upcoming institutional filing updates and the company's next earnings release in November to gauge ongoing demand. While Bank of America trimmed its exposure during the period, broader market sentiment and analyst targets suggest continued attention on the semiconductor sector.