Wed Sep 18 18:22:00 UTC 2024: ## Applied Materials Stock Sees Moderate Gains Amid Analyst Divergence
**San Jose, CA – September 18, 2024** – Shares of Applied Materials, Inc. (AMAT) closed Wednesday at $189.00, up 0.2% from the previous day’s close. Trading volume was significantly lower than average, with only 505,586 shares changing hands.
The stock’s modest gains come amidst a mixed bag of analyst opinions. While some analysts remain bullish, others have expressed caution. StockNews.com downgraded the company from “buy” to “hold,” citing unspecified reasons. Barclays, however, upgraded the stock from “underweight” to “equal weight” and raised their price target from $165.00 to $225.00.
Other analysts, including Needham & Company LLC, Citigroup, and Deutsche Bank Aktiengesellschaft, have also issued price targets, with some raising and others lowering their predictions.
Overall, the stock currently holds a “Moderate Buy” rating, with an average price target of $232.00.
Applied Materials, a leading provider of manufacturing equipment for the semiconductor and display industries, reported strong Q2 earnings on August 15th, exceeding analyst expectations. The company announced a quarterly dividend of $0.40 per share, payable on December 12th.
In insider trading news, Director Thomas J. Iannotti sold 9,827 shares of AMAT stock on June 21st, at an average price of $236.65. Following the sale, he owns 49,185 shares in the company.
Hedge funds have also been active in the stock. Swedbank AB acquired a new position in Applied Materials during the first quarter, while Wellington Management Group LLP significantly increased their holdings.
The company’s stock is currently owned by institutional investors to the tune of 80.56%, suggesting significant confidence in the company’s future prospects.
First Piper 