Midwest Trust 13F: Cuts Applied Materials (AMAT) Stake by $3.5M

Midwest Trust lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 6,784 shares during the third quarter, according to a Form 13F filed with the SEC on October 22, 2026. The adjustment brought the firm's stake down by 7.1% to 88,978 shares. That position carried an estimated value of $45.5 million at the close of the period. Applied Materials shares closed at $375.58 on the day of the filing.

AMAT Applied Materials, Inc.

$375.58 ▲ +40.18% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Midwest Trust's Applied Materials Position

Midwest Trust held 95,762 shares of the chip equipment maker before the adjustment. By shedding 6,784 shares, the trust reduced its exposure to the semiconductor sector while maintaining a substantial holding worth tens of millions of dollars. The filing reflects portfolio management choices made during the period leading up to October 22, 2026.

Other Institutional Activity in Applied Materials

Other fund managers made mixed moves regarding the stock during the same filing window. AMF Tjanstepension picked up 6,638 shares, establishing a new position worth roughly $3.4 million. On the other hand, Carnegie Investment Counsel trimmed its holdings by 3,613 shares to finish with 108,067 shares valued at about $55.3 million. Livforsakringsbolaget Skandia, Omsesidigt reduced its stake by 5,330 shares, ending with 70,237 shares worth about $35.9 million. Aspiriant exited its position entirely by shedding 3,319 shares, while Kmg Fiduciary Partners cut its holdings by 1,508 shares to hold 7,934 shares valued at roughly $4.1 million.

Applied Materials, Inc. Stock Down 6.0%

The stock recently traded around $380.64, sitting above its closing price on the filing date and up about 1.3% since then. The shares have experienced a wide trading range over the past year, reaching a 52-week high of $739.67 and a low of $203.40. The company carries a market capitalization of roughly $324.5 billion.

Recent Earnings

The company posted trailing twelve-month revenue of $30.8 billion alongside earnings of $11.59 per share. Profitability metrics show a net margin of 30.1% and a return on equity of 41.1%. The business is slated to release its next financial results on November 12, 2026.

Dividend

Shareholders receive an annual dividend of $2.12 per share, which translates to a dividend yield of 0.52%. The payout ratio stands at 16.5% of earnings.

Insider Buying and Selling at Applied Materials, Inc.

Company insiders completed several transactions prior to the filing. Chief Executive Officer Gary E. Dickerson disposed of 78,321 shares on June 30, 2026, in a transaction valued at about $55.6 million. Chief Financial Officer Brice Hill sold 7,500 shares on August 25, 2026, at an average price of $479.25 for a total of $3.6 million. Director Judy Bruner sold 1,000 shares on September 8, 2026, at $465.00 per share, totaling $465,000. Finally, officer Adam Sanders sold 725 shares on October 2, 2026, at an average price of $544.56, worth roughly $394,807.

Analysts Set New Price Targets

Analyst firms adjusted their views on the stock leading into the filing period. On September 1, 2026, UBS maintained a buy rating while lifting its price target from $675.00 to $695.00. Morgan Stanley kept an equal-weight rating on September 28, 2026, while lowering its target from $642.00 to $563.00. RBC Capital reiterated an outperform rating with a $600.00 target on October 14, 2026. Evercore ISI Group maintained an outperform rating on October 15, 2026, while adjusting its target from $700.00 to $590.00. Needham kept a buy rating on October 16, 2026, while reducing its target from $740.00 to $580.00. Across Wall Street, the stock holds a consensus recommendation of strong buy with a mean target price of $627.83 from 36 analysts.

About Applied Materials

Applied Materials builds specialized manufacturing equipment, software, and services used to fabricate advanced semiconductor chips and display panels worldwide. Based in Santa Clara, California, the company operates as a key supplier for major chipmakers globally, making its operational health an important barometer for the broader technology hardware sector.

Bottom Line

Investors tracking institutional sentiment will look toward the upcoming earnings release on November 12, 2026, for further updates on the company's financial trajectory. Future SEC filings will reveal whether other large investors follow Midwest Trust's lead in adjusting their stakes.