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 $8.39 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 $262.94 million.
As published in a research note from TD Cowen on November 15, 2024, Applied Materials Inc [AMAT] has been retained to a Buy and the price target has been revised to $230. Analysts at Barclays upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early June. As of May 17, 2024, TD Cowen has reiterated its “Buy” rating for AMAT. Earlier on May 13, 2024, Jefferies downgraded its rating. Their new recommendation was “a Hold” for AMAT stock which previously was a “a Buy”.
Analyzing AMAT Stock Performance
During the last five days, there has been a drop of approximately -6.73%. Over the course of the year, Applied Materials Inc shares have jumped approximately 5.20%. 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 $190.26, while a 200-day SMA reached $204.05. Nevertheless, trading volume fell to 6.18 million shares from 8.65 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 168.19, which, if violated, would cause prices to drop to 165.89. In the upper region, resistance lies at 171.66. The next price resistance is at 172.82. RSI (Relative Strength Index) is 36.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.87, which suggests the price will decrease in the coming days. Percent R is at 86.75%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
