California State Teachers Retirement System 13F: Cuts AMAT Stake by $24M
The California State Teachers Retirement System has reduced its investment in Applied Materials, Inc. by 34,725 shares.
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California State Teachers Retirement System sold 34,725 shares from its stake in Applied Materials, Inc. ($AMAT), a 2.76% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 1,224,298 shares worth $856.27 million at the end of the quarter.
Since the filing, $AMAT is up 10.1% after 1 week, up 43.5% after 1 month and down 0.8% to date (from the $412.62 close on May 18, 2026).
Find the original: California State Teachers Retirement System 13F filings on SEC EDGAR
AMAT
Applied Materials, Inc.
Key Points
- California State Teachers Retirement System trimmed its stake in Applied Materials by 34,725 shares, bringing its total to 1,224,298 shares.
- With a current share price around $699.39, the value of its holdings is approximately $856.3 million.
- In the same quarter, other big investors like BlackRock and Vanguard also adjusted their positions in Applied Materials.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Applied Materials, Inc. alert may contain errors. Disclosures
The California State Teachers Retirement System has trimmed its investment in Applied Materials, Inc. (NasdaqGS: AMAT) by 34,725 shares. The fund now holds a total of 1,224,298 shares after this reduction, which reflects a decrease of about 2.76%. This latest move was reported in the fund's latest 13F filing for the quarter ended May 18, 2026, with the current value of its holdings nearing $856.3 million.
What Changed in California State Teachers Retirement System's Position
The California State Teachers Retirement System reduced its holdings in Applied Materials, bringing its share count down from 1,259,023 to 1,224,298 shares. This change in position indicates ongoing adjustments by the fund, as it continues to manage its investments in the semiconductor equipment sector.
Other Institutional Activity in Applied Materials
In the same quarter, several other institutional investors also adjusted their stakes in Applied Materials. BlackRock Inc. grew its holdings by 1,239,871 shares, ending with 80,212,518 shares valued at about $33.2 billion. Vanguard Capital Management LLC added 268,217 shares, increasing its total to 51,848,358 shares worth around $21.5 billion. State Street Corporation also lifted its position, gaining 731,418 shares for a total of 38,240,019 shares valued at about $15.9 billion. Invesco Ltd. increased its stake by 1,900,912 shares, ending with 28,265,844 shares worth about $11.7 billion, while Capital Research Global Investors reduced its position by 7,296,037 shares, holding 22,159,097 shares valued at approximately $9.2 billion.
Applied Materials, Inc. Stock Up 62.6%
As of the publication date, Applied Materials shares are trading around $699.39, not far from their 52-week high of $739.67. The stock has shown strong performance over the past year, reflecting investor confidence in the semiconductor industry.
Recent Earnings
In its last earnings report, Applied Materials reported revenue of approximately $30.8 billion, reflecting a growth rate of 24.8%. The company's earnings per share (EPS) stood at $11.6, with a net margin of 30.05% and a return on equity (ROE) of 41.07%. The next earnings report is expected on November 12, 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 currently pays an annual dividend of $2.12 per share, yielding about 0.48%. The payout ratio is roughly 16.48%, indicating a stable dividend policy.
Insider Buying and Selling at Applied Materials, Inc.
Recent insider activities include several sales by top executives. Adam Sanders, an officer, sold 725 shares at an average price of $544.56 on October 2, 2026, totaling approximately $394,807. Judy Bruner, a director, sold 1,000 shares for $465, amounting to $465,000 on September 8, 2026. Additionally, Chief Financial Officer Brice Hill sold 7,500 shares at $479.25 on August 25, 2026, for about $3.6 million. The CEO, Gary E. Dickerson, sold 78,321 shares on June 30, 2026, valued at around $55.6 million.
Analysts Set New Price Targets
Analysts have been adjusting their price targets for Applied Materials recently. On October 16, 2026, Needham maintained a Buy rating but lowered its target from $740 to $580. Evercore ISI Group also maintained its Outperform rating while adjusting its target to $590 from $700 on October 15, 2026. RBC Capital reiterated its Outperform rating with a $600 price target on October 14, 2026. Morgan Stanley maintained an Equal-Weight rating with a target drop to $563 from $642 on September 28, 2026. UBS maintained a Buy rating with a target increase from $675 to $695 on September 1, 2026. The consensus among analysts is a strong buy rating with a mean price target of about $640.89 from 35 analyst opinions.
About Applied Materials
Applied Materials, Inc. focuses on providing equipment, services, and software for the semiconductor industry, among others. Headquartered in Santa Clara, California, it plays a crucial role in the global technology supply chain, especially as demand for semiconductor technology continues to rise.
Bottom Line
Investors should keep an eye on Applied Materials as it approaches its next earnings report on November 12, 2026. The recent 13F filings reflect a period where institutional investors are actively managing their positions, which could indicate shifting sentiments in the semiconductor sector.
Related Filing Alerts
Source: California State Teachers Retirement System's 13F filing on $AMAT (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: California State Teachers Retirement System 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts