Applied Materials (NASDAQ:AMAT) has tumbled 2.66% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.4% in the last four weeks. The stocks have underperformed the S&P 500 by 1.49% during the past week but Applied Materials (NASDAQ:AMAT) it has outperformed the index in 4 weeks by 2.45%.
Applied Materials (NASDAQ:AMAT): The stock opened at $23.65 on Friday but the bulls could not build on the opening and the stock topped out at $23.65 for the day. The stock traded down to $23.36 during the day, due to lack of any buying support eventually closed down at $23.43 with a loss of -1.10% for the day. The stock had closed at $23.69 on the previous day. The total traded volume was 22,138,510 shares.
The company shares have rallied 17.98% from its 1 Year high price. On Jun 2, 2016, the shares registered one year high at $24.65 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $22.20 and the 200 Day Moving Average price is recorded at $19.74.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Salehpour Ali, officer (Sr. VP, GM New Mrkts & Service) of Applied Materials Inc /De, had unloaded 40,000 shares at an average price of $24.37 in a transaction dated on June 3, 2016. The total value of the transaction was worth $974,800.
Many analysts have stated their opinion on the company shares. Goldman Sachs maintains its view on Applied Materials (NASDAQ:AMAT) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Goldman Sachs raises the price target from $25 per share to $27 per share on Applied Materials . The rating by the firm was issued on June 2, 2016. Currently the company Insiders own 0.25% of Applied Materials shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -8.09% . Institutional Investors own 84.07% of Applied Materials shares. During last six month period, the net percent change held by insiders has seen a change of -8.09%.
Applied Materials, Inc. (Applied) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group, Applied Global Services, Display, and Energy and Environmental Solutions. The Silicon Systems Group segment develops, manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services, products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays, organic light-emitting diodes and other display technologies for televisions, personal computers, tablets, smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.