Rep. Robert Bresnahan, Jr. Sells Applied Materials, Inc. (NASDAQ:AMAT) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Applied Materials stock on April 8th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/17/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/16/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/11/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/10/2025.
• Sold $1,001 – $15,000 in shares of DexCom (NASDAQ:DXCM) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Invesco (NYSE:IVZ) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Generac (NYSE:GNRC) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Occidental Petroleum (NYSE:OXY) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 4/8/2025.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $155.69 on Monday. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $126.49 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. The company’s 50 day moving average is $147.27 and its 200 day moving average is $165.75.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Institutional Investors Weigh In On Applied Materials

A number of hedge funds have recently modified their holdings of AMAT. Vanguard Group Inc. lifted its stake in Applied Materials by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 77,039,667 shares of the manufacturing equipment provider’s stock worth $12,528,961,000 after purchasing an additional 487,358 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Applied Materials by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 20,079,451 shares of the manufacturing equipment provider’s stock valued at $3,260,178,000 after purchasing an additional 253,078 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Applied Materials by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock valued at $1,663,780,000 after purchasing an additional 1,602,645 shares during the last quarter. Norges Bank purchased a new position in Applied Materials during the fourth quarter worth approximately $1,588,422,000. Finally, Alliancebernstein L.P. boosted its stake in Applied Materials by 7.6% during the fourth quarter. Alliancebernstein L.P. now owns 8,338,520 shares of the manufacturing equipment provider’s stock worth $1,356,094,000 after buying an additional 587,036 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on AMAT. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a report on Friday, January 17th. Barclays decreased their target price on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Susquehanna increased their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Citigroup reduced their price target on Applied Materials from $202.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.86.

Insiders Place Their Bets

In other news, CEO Gary E. Dickerson purchased 50,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the acquisition, the chief executive officer now directly owns 1,716,058 shares of the company’s stock, valued at approximately $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Applied Materials

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.