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

AMAT opened at $163.87 on Friday. The company has a market cap of $133.34 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.52. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $175.13 and its 200-day moving average price is $195.91. Applied Materials, Inc. has a 52-week low of $148.05 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued 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. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the prior year, the business posted $2.12 EPS. Applied Materials’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.48 EPS for the current fiscal year.

Applied Materials Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fairfield Financial Advisors LTD purchased a new position in Applied Materials during the second quarter valued at $28,000. Clean Yield Group acquired a new position in shares of Applied Materials during the 3rd quarter worth about $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials in the 3rd quarter worth about $37,000. Finally, DT Investment Partners LLC increased its stake in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMAT shares. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Wells Fargo & Company dropped their target price on Applied Materials from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. TD Cowen decreased their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Evercore ISI cut their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target 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.