KD Logo

Applied Materials Inc. (AMAT) rating initates by Evercore ISI

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 ’23. 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 $39.2 million.

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 $14.27 million.

Evercore ISI initiated its Applied Materials Inc. [AMAT] rating to an Outperform in a research note published on April 16, 2024; the price target was $260. Cantor Fitzgerald also remained covering AMAT and has increased its forecast on April 08, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen maintained its rating on February 16, 2024. It rated AMAT as “an Outperform”.

Price Performance Review of AMAT

On Monday, Applied Materials Inc. [NASDAQ:AMAT] saw its stock jump 0.92% to $205.26. Over the last five days, the stock has gained 8.34%. Applied Materials Inc. shares have risen nearly 26.65% since the year began. Nevertheless, the stocks have risen 83.79% over the past one year. While a 52-week high of $214.91 was reached on 03/21/24, a 52-week low of $109.15 was recorded on 01/05/24. SMA at 50 days reached $203.40, while 200 days put it at $163.11. A total of 2.79 million shares were traded, compared to the trading of 3.93 million shares in the previous session.

Levels Of Support And Resistance For AMAT Stock

The 24-hour chart illustrates a support level at 202.93, which if violated will result in even more drops to 200.60. On the upside, there is a resistance level at 206.44. A further resistance level may holdings at 207.62. The Relative Strength Index (RSI) on the 14-day chart is 54.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.04, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.33%. Stochastics %K at 55.03% indicates the stock is a holding.

The most recent change occurred on January 23, 2024 when Cantor Fitzgerald began covering the stock and recommended ‘”a Neutral”‘ rating along with a $180 price target.

Most Popular

[the_ad id="945"]