Applied Materials Inc. [AMAT] stock for 2,652 USD was sold by Deane Timothy M

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applied Materials Inc. shares valued at $2,652 were sold by Deane Timothy M on Sep 14. At $91.46 per share, Deane Timothy M sold 29 shares. The insider’s holdings dropped to 87,532 shares worth approximately $7.62 million following the completion of this transaction.

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Also, Little Teri A. sold 10,000 shares, netting a total of over 895,000 in proceeds. Following the sale of shares at $89.50 each, the insider now holds 83,169 shares.

Before that, Little Teri A. had sold 15,000 shares from its account. In a trade valued at $1,294,500, the SVP, CLO traded Applied Materials Inc. shares for $86.30 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $8.11 million.

As published in a research note from Needham on August 19, 2022, Applied Materials Inc. [AMAT] has been retained to a Buy and the price target has been revised to $125. This represents a 30.33% premium over Wednesday’s closing price. Analysts at Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid August. As of February 17, 2022, UBS has reiterated its “Neutral” rating for AMAT. Earlier on February 17, 2022, Piper Sandler resumed its rating. Their recommendation was “a Neutral” for AMAT stock.

Analyzing AMAT’s Price Performance

On Wednesday, Applied Materials Inc. [NASDAQ: AMAT] plunged -1.17% to $87.09. The stock’s lowest price that day was $87.05, but it reached a high of $91.26 in the same session. During the last five days, there has been a drop of approximately -3.92%. Over the course of the year, Applied Materials Inc. shares have dropped approximately -44.66%. Shares of the company reached a 52-week high of $167.06 on 01/14/22 and a 52-week low of $82.67 on 07/05/22. A 50-day SMA is recorded $99.29, while a 200-day SMA reached $119.15. Nevertheless, trading volume fell to 6.91 million shares from 4.44 million shares the previous day.

Support And Resistance Levels for Applied Materials Inc. (AMAT)

According to the 24-hour chart, there is a support level at 85.67, which, if violated, would cause prices to drop to 84.26. In the upper region, resistance lies at 89.88. The next price resistance is at 92.68. RSI (Relative Strength Index) is 34.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.81, which suggests the price will decrease in the coming days. Percent R is at 98.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Applied Materials Inc. subject to short interest?

Stocks of Applied Materials Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.16 million shares to 11.29 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.13 million shares. A jump of 1.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.34 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.34.

Which companies own the most shares of Applied Materials Inc. (AMAT)?

According to The Vanguard Group, Inc. filings, the company currently owns 69,938,782 shares, which is about 8.13% of the total AMAT shares outstanding. The investor’s shares have appreciated by 648,766 from its previous 13-F filing of 69290016.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $4,261,293,298. SSgA Funds Management, Inc. reduced a -3.20% interest valued at $3.66 billion while Capital Research & Management Co sold a -1,481,738 stake. A total of -5,879,417 shares of Applied Materials Inc. were sold by Capital Research & Management Co during the quarter, and -625,939 were sold by Geode Capital Management LLC. In its current portfolio, Northern Trust Investments, Inc. holds 10,412,696 shares valued at $979.52 million.

In terms of Applied Materials Inc. share price expectations, FactSet research, analysts set an average price target of $128.36 in the next 12 months, up nearly 41.85% from the previous closing price of $88.12. Analysts anticipate Applied Materials Inc. stock to reach $158.00 by 2022, with the lowest price target being $95.00. In spite of this, 29 analysts ranked Applied Materials Inc. stock as an Overweight at the end of 2022. On February 17, 2022, Needham assigned a price target of “a Buy” to the stock and reiterated coverage with a $172.


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