Recent Insider Activity Could Benefit Applied Materials Inc. (AMAT)

Applied Materials Inc.’s recently made public that its Senior Vice President, CTO Nalamasu Omkaram unloaded Company’s shares for reported $3.77 million on Dec 22. In the deal valued at $162.45 per share,23,228 shares were sold. As a result of this transaction, Nalamasu Omkaram now holds 190,972 shares worth roughly $35.49 million.

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Then, Hill Brice sold 1,000 shares, generating $150,040 in total proceeds. Upon selling the shares at $150.04, the SVP, CFO now owns 106,023 shares.

Before that, Little Teri A. sold 10,000 shares. Applied Materials Inc. shares valued at $1,420,000 were divested by the SVP, CLO at a price of $142.00 per share. As a result of the transaction, Little Teri A. now holds 69,504 shares, worth roughly $12.92 million.

Cantor Fitzgerald initiated its Applied Materials Inc. [AMAT] rating to a Neutral in a research note published on January 23, 2024; the price target was $180.

Price Performance Review of AMAT

On Friday, Applied Materials Inc. [NASDAQ:AMAT] saw its stock jump 6.87% to $185.84. Over the last five days, the stock has gained 10.50%. Applied Materials Inc. shares have risen nearly 14.67% since the year began. Nevertheless, the stocks have risen 60.28% over the past one year. While a 52-week high of $178.40 was reached on 02/09/24, a 52-week low of $109.00 was recorded on 01/05/24. SMA at 50 days reached $160.42, while 200 days put it at $144.21. A total of 9.54 million shares were traded, compared to the trading of 7.33 million shares in the previous session.

Levels Of Support And Resistance For AMAT Stock

The 24-hour chart illustrates a support level at 180.92, which if violated will result in even more drops to 175.99. On the upside, there is a resistance level at 188.46. A further resistance level may holdings at 191.07. The Relative Strength Index (RSI) on the 14-day chart is 73.54, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 10.17, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.75%. Stochastics %K at 90.73% 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 Jan 31, 2024, dropping by -5.77 million shares to a total of 16.78 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 22.55 million shares. There was a decline of -34.39%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.02% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.58.

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