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

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 Price Performance

Shares of NASDAQ AMAT opened at $162.63 on Wednesday. Applied Materials, Inc. has a 1 year low of $148.05 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The company’s 50-day moving average is $175.93 and its 200 day moving average is $196.37. The stock has a market capitalization 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.

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

Applied Materials Announces Dividend

The business also recently announced 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 is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. Applied Materials’s dividend payout ratio is 18.58%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. boosted its position in shares of Applied Materials by 341.0% during the third quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after acquiring an additional 2,209,218 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Applied Materials by 67.8% during the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after purchasing an additional 1,884,153 shares in the last quarter. Van ECK Associates Corp lifted its position 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 buying an additional 1,509,439 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Applied Materials by 262.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after buying an additional 1,006,937 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in shares of Applied Materials by 87.7% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider’s stock worth $379,275,000 after acquiring an additional 877,133 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMAT. Bank of America cut their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. TD Cowen cut their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Needham & Company LLC lowered their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Sanford C. Bernstein lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. 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 stock. According to MarketBeat, the stock presently 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.