Susquehanna reiterates Applied Materials Inc. (AMAT) stock to a Neutral


Applied Materials Inc.’s filing revealed that its SVP, CFO Hill Brice unloaded Company’s shares for reported $0.15 million on Aug 30. In the deal valued at $150.04 per share,1,000 shares were sold. As a result of this transaction, Hill Brice now holds 106,023 shares worth roughly $ 16.29 million.

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Then, Little Teri A. sold 10,000 shares, generating $1,420,000 in total proceeds. Upon selling the shares at $142.00, the SVP, CLO now owns 69,504 shares.

Before that, Deane Timothy M sold 7,500 shares. Applied Materials Inc. shares valued at $1,029,750 were divested by the GVP, Applied Global Services at a price of $137.30 per share. As a result of the transaction, Deane Timothy M now holds 100,759 shares, worth roughly $15.48 million.

Susquehanna reiterated its Applied Materials Inc. [AMAT] rating to a Neutral in a research note published on Tuesday, August 21, 2023; the price target was $128. PT values the company’s stock at a premium of -20.01 to its Tuesday closing price.

Price Performance Review of AMAT

On Tuesday, Applied Materials Inc. [NASDAQ:AMAT] saw its stock fall -0.25% to $153.61. On the same session, the stock had its day’s lowest price of $152.3167, but rose to a high of $154.82. Over the last five days, the stock has gained 5.63%. Applied Materials Inc. shares have risen nearly 57.74% since the year began. Nevertheless, the stocks have risen 67.31% over the past one year. While a 52-week high of $154.54 was reached on 09/05/23, a 52-week low of $71.12 was recorded on 01/03/23. SMA at 50 days reached $144.35, while 200 days put it at $123.07. A total of 4.27 million shares were traded, compared to the trading of 3.69 million shares in the previous session.

Levels Of Support And Resistance For AMAT Stock

The 24-hour chart illustrates a support level at 152.34, which if violated will result in even more drops to 151.08. On the upside, there is a resistance level at 154.85. A further resistance level may holdings at 156.09. The Relative Strength Index (RSI) on the 14-day chart is 61.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.27%. Stochastics %K at 95.98% indicates the stock is a selling.

How much short interest is there in Applied Materials Inc.?

A steep rise in short interest was recorded in Applied Materials Inc. stocks on Aug 14, 2023, growing by 2.66 million shares to a total of 19.27 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 16.61 million shares. There was a rise of 13.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.31% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.38.

Applied Materials Inc. [AMAT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 70,030,890 shares, or roughly 8.34% of the outstanding AMAT shares. In other words, the investor’s shares have risen by 420,866 from its previous 13-F filing of 69610024.0. Additionally, BlackRock Fund Advisors increased 3.11% of its stake after which the total value it holdings stand at $6,843,593,005, while SSgA Funds Management, Inc. reduced -0.50% of its stake to hold $5.8 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 3,865,159 shares of Applied Materials Inc., while Capital Research & Management Co bought 160,472 shares. At present, Geode Capital Management LLC is holding 16,991,062 shares valued at $2.58 billion. T. Rowe Price Associates, Inc. owned 12,335,558 shares of the company at the time of its most recent 13F filing, worth $1.87 billion.

According to FactSet, Applied Materials Inc.’s share price will average $158.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.9 percent from its previous closing price of $153.99. Analysts expect Applied Materials Inc. stock to reach the higher price of $175.00, while the lowest price estimate is $120.00. However, 30 analysts have rated AMAT stock as an Overweight in their predictions for 2023.


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