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 $2,325,560 were sold by Iannotti Thomas J on Jun 21 ’24. At $236.65 per share, Iannotti Thomas J sold 9,827 shares. The insider’s holdings dropped to 49,185 shares worth approximately $9.11 million following the completion of this transaction.
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Also, Raja Prabu G. sold 50,000 shares, netting a total of over 12,458,500 in proceeds. Following the sale of shares at $249.17 each, the insider now holds 458,417 shares.
Before that, DICKERSON GARY E had sold 400,000 shares from its account. In a trade valued at $98,579,111, the President and CEO traded Applied Materials Inc. shares for $246.45 each. Upon closing the transaction, the insider’s holdings decreased to 400,000 shares, worth approximately $285.78 million.
As published in a research note from Barclays on June 05, 2024, Applied Materials Inc. [AMAT] has been rated up from an Underweight to an Equal weight and the price target has been revised to $225 from $165. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in mid May. As of May 13, 2024, Jefferies has decreased its “Buy” rating to a “Hold” for AMAT. Earlier on April 16, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for AMAT stock.
Analyzing AMAT Stock Performance
During the last five days, there has been a surge of approximately 1.42%. Over the course of the year, Applied Materials Inc. shares have jumped approximately 14.33%. Shares of the company reached a 52-week high of $255.89 on 07/10/24 and a 52-week low of $148.05 on 01/05/24. A 50-day SMA is recorded $192.65, while a 200-day SMA reached $202.92. Nevertheless, trading volume fell to 5.75 million shares from 6.01 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 183.94, which, if violated, would cause prices to drop to 182.57. In the upper region, resistance lies at 187.43. The next price resistance is at 189.55. RSI (Relative Strength Index) is 43.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.03, which suggests the price will decrease in the coming days. Percent R is at 84.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
