Sen. Markwayne Mullin Buys Applied Materials, Inc. (NASDAQ:AMAT) Stock

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on December 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in Applied Materials stock on December 11th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Axon Enterprise (NASDAQ:AXON) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Sprouts Farmers Market (NASDAQ:SFM) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Badger Meter (NYSE:BMI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Freshpet (NASDAQ:FRPT) on 12/18/2024.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $162.63 on Thursday. The firm’s fifty day moving average is $175.53 and its two-hundred day moving average is $196.13. Applied Materials, Inc. has a 52-week low of $148.05 and a 52-week high of $255.89. The company has a market cap of $132.33 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 earnings per share. As a group, analysts anticipate that Applied Materials, Inc. will post 9.48 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. Applied Materials’s payout ratio is 18.58%.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Applied Materials by 1.8% during the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock worth $7,841,178,000 after purchasing an additional 672,548 shares in the last quarter. Geode Capital Management LLC increased its stake in Applied Materials by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after buying an additional 371,866 shares in the last quarter. FMR LLC raised its holdings in shares of Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after acquiring an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Applied Materials by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock valued at $1,790,554,000 after acquiring an additional 318,445 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after acquiring an additional 1,509,439 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMAT. Citigroup cut their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Susquehanna dropped their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. UBS Group lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, TD Cowen decreased their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.29.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.