Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applied Materials Inc. shares valued at $3,773,389 were sold by Nalamasu Omkaram on Dec 22 ’23. At $162.45 per share, Nalamasu Omkaram sold 23,228 shares. The insider’s holdings dropped to 190,972 shares worth approximately $39.72 million following the completion of this transaction.
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Also, Hill Brice sold 1,000 shares, netting a total of over 150,040 in proceeds. Following the sale of shares at $150.04 each, the insider now holds 106,023 shares.
Before that, Little Teri A. had sold 10,000 shares from its account. In a trade valued at $1,420,000, the SVP, CLO traded Applied Materials Inc. shares for $142.00 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $14.46 million.
As published in a research note from TD Cowen on February 16, 2024, Applied Materials Inc. [AMAT] has been retained to an Outperform and the price target has been revised to $245. Analysts at Cantor Fitzgerald started covering the stock with ‘”a Neutral”‘ outlook in a report released in late January. As of December 12, 2023, TD Cowen has reiterated its “an Outperform” rating for AMAT. Earlier on November 22, 2023, Redburn Atlantic upgraded its rating. Their new recommendation was “a Buy” for AMAT stock which previously was a “a Neutral”.
Analyzing AMAT Stock Performance
During the last five days, there has been a surge of approximately 1.43%. Over the course of the year, Applied Materials Inc. shares have jumped approximately 28.34%. Shares of the company reached a 52-week high of $214.91 on 03/21/24 and a 52-week low of $148.05 on 01/05/24. A 50-day SMA is recorded $189.43, while a 200-day SMA reached $156.23. Nevertheless, trading volume fell to 3.06 million shares from 3.61 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 205.10, which, if violated, would cause prices to drop to 202.21. In the upper region, resistance lies at 209.69. The next price resistance is at 211.38. RSI (Relative Strength Index) is 59.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.20, which suggests the price will increase in the coming days. Percent R is at 38.58%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Applied Materials Inc. subject to short interest?
Stocks of Applied Materials Inc. saw a sharp steep in short interest on Feb 29, 2024 dropping by -3.53 million shares to 13.25 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 16.78 million shares. A decline of -26.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.81 of the overall float, the days-to-cover ratio (short ratio) decline to 1.81.
