California State Teachers Retirement System 13F: Cuts AMAT Stake by $19M

The California State Teachers Retirement System trimmed its position in Applied Materials, Inc. (AMAT) by 34,725 shares, representing a 2.76% decrease. After this adjustment, the fund now holds 1,224,298 shares valued at about $676.4 million as of May 18, 2026, according to its latest Form 13F filing with the SEC.

The fund's reduction in shares indicates a slight shift in its investment strategy, as it continues to maintain a significant stake in the semiconductor equipment provider. This move comes as Applied Materials trades at $552.50, positioned well above its 52-week low of $196.20 but below its peak of $739.67.

Other Institutional Activity in Applied Materials

Other institutional investors also adjusted their positions in Applied Materials. Blackrock Inc. grew its holdings by 1,239,871 shares, ending with 80,212,518 shares worth approximately $33.2 billion. Vanguard Capital Management LLC added 268,217 shares for a total of 51,848,358 shares valued at about $21.5 billion. State Street Corporation increased its stake by 731,418 shares, bringing its total to 38,240,019 shares worth around $15.9 billion. Invesco Ltd. expanded its position by 1,900,912 shares, totaling 28,265,844 shares valued at about $11.7 billion. However, Capital Research Global Investors decreased its holdings by 7,296,037 shares, leaving it with 22,159,097 shares worth about $9.2 billion.

Applied Materials, Inc. Stock Up 28.5%

As of the article's publication, Applied Materials is trading at $552.50, which shows a robust performance compared to its average price over the last 50 days of about $498.35. The company's current share price is in the upper range of its 52-week performance, suggesting investor confidence despite the recent slight reduction by the California State Teachers Retirement System.

Recent Earnings

In its most recent earnings report, Applied Materials posted revenue of approximately $30.8 billion with a net margin of 30.05%. The company's return on equity (ROE) stands at 41.07%, which is strong in the industry. The next earnings report is expected on November 12, 2026.

Insider Buying and Selling at Applied Materials, Inc.

Recent insider transactions show that several company executives have sold shares. Adam Sanders, an officer, sold 725 shares on October 2, 2026, totaling about $394,807. Director Judy Bruner sold 1,000 shares on September 8, 2026, valued at $465,000. Chief Financial Officer Brice Hill sold 7,500 shares on August 25, 2026, totaling around $3.6 million. CEO Gary E. Dickerson sold 78,321 shares on June 30, 2026, valued at approximately $55.6 million.

Analysts Set New Price Targets

Analysts have recently adjusted their price targets for Applied Materials. On October 16, 2026, Needham maintained a Buy rating but lowered its target to $580. Evercore ISI Group also maintained its Outperform rating with a target of $590 on October 15, 2026. RBC Capital reiterated its Outperform rating with a $600 target on October 14, 2026. Morgan Stanley maintained an Equal-Weight rating with a $563 target on September 28, 2026, while UBS also kept its Buy rating with a target increased to $695 on September 1, 2026.

About Applied Materials

Applied Materials, Inc. provides equipment, services, and software for the semiconductor and related industries globally. The company operates through two main segments: Semiconductor Systems and Applied Global Services. Its innovative technologies are critical for producing a wide range of electronic devices, making it a key player in the technology sector.

Bottom Line

Looking ahead, investors may focus on the upcoming earnings report on November 12, 2026, and watch for further institutional filings that could impact the stock's performance. This latest Form 13F filing reflects the fund's holdings as of the end of the reporting period and may not represent its current position.