Waverly Advisors 13F: Cuts Applied Materials (AMAT) Stake by $6M

Waverly Advisors Adjusts Portfolio With Applied Materials Sale

Waverly Advisors cut its investment in Applied Materials, Inc. (NasdaqGS: AMAT) during the reporting period, according to a Form 13F filing with the SEC. The firm sold 8,535 shares of the semiconductor equipment provider, marking a 15.24% decrease from its prior holdings. This sale follows previous portfolio adjustments by the advisory firm, which has actively managed positions across various major equities this year.

Details of the Reduction in AMAT Shares

Following the transaction, Waverly Advisors retained 47,456 shares of Applied Materials. At the close of the reporting window, that remaining stake carried a value of about $33.19 million. The reduction shifts the firm's exposure to the chip equipment maker, though it keeps a sizable position in the Santa Clara-based technology firm.

Applied Materials Stock Context

Shares of Applied Materials trade near the upper half of their annual range, backed by strong financial results in the chip manufacturing sector. The company recently posted annual revenue of $30.84 billion alongside robust net income margins. Investors monitor these equity movements closely as market conditions shift across the semiconductor supply chain.

Wall Street Analyst Updates

Financial institutions continue to refresh their outlooks on the stock as market conditions evolve. On October 16, 2026, Needham maintained its Buy rating while lowering its price target to $580.00 from $740.00. Evercore ISI Group kept an Outperform rating on October 15, 2026, adjusting its target to $590.00 from $700.00. RBC Capital reiterated an Outperform rating with a $600.00 target on October 14, 2026. Morgan Stanley maintained an Equal-Weight rating on September 28, 2026, lowering its target to $563.00, while UBS kept a Buy rating on September 1, 2026, with a $695.00 target. Mizuho kept an Outperform rating on August 25, 2026, setting a target of $590.00, and Argus Research maintained a Buy rating on August 18, 2026, lifting its target to $600.00. Earlier on August 14, 2026, UBS maintained a Buy rating with a target of $675.00.

Overview of Applied Materials Operations

Applied Materials builds specialized equipment, services, and software used to manufacture semiconductor chips. Its systems enable complex manufacturing steps like etching, deposition, and wafer inspection for top global device makers. The firm operates major segments focused on semiconductor systems and global automated fab services.

What to Watch at Applied Materials, Inc.

Because 13F filings look backward at past quarters, this snapshot reflects positions held as of May 15, 2026, and may not show where Waverly Advisors stands today. The firm's next steps will become clearer in subsequent SEC disclosures. Meanwhile, the company's next quarterly earnings report is scheduled for release on November 12, 2026.