The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $37.11 million following the completion of this transaction.
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 $13.51 million.
As published in their initiating research note from Evercore ISI on April 16, 2024, Applied Materials Inc. [AMAT] has been an Outperform and the price target has been revised to $260. As of April 08, 2024, Cantor Fitzgerald has increased its “Neutral” rating to a “an Overweight” for AMAT. Earlier on February 16, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for AMAT stock.
Analyzing AMAT Stock Performance
During the last five days, there has been a drop of approximately -8.76%. Over the course of the year, Applied Materials Inc. shares have jumped approximately 19.90%. 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 $201.31, while a 200-day SMA reached $161.14. Nevertheless, trading volume fell to 6.1 million shares from 6.35 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 192.42, which, if violated, would cause prices to drop to 190.52. In the upper region, resistance lies at 197.32. The next price resistance is at 200.31. RSI (Relative Strength Index) is 39.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.37, which suggests the price will decrease in the coming days. Percent R is at 96.18%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
