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An Applied Materials facility. CEO Gary Dickerson simply bought $14.7 million of shares of the semiconductor-equipment maker.
David Paul Morris/Bloomberg
Applied Materials
inventory has been surging, and two high executives simply bought almost $22 million of shares of the semiconductor-equipment maker.
Applied Materials (ticker: AMAT) inventory surged 41.4% final 12 months in contrast with a 16.3% rise within the
S&P 500 index.
Shares proceed to outperform, up 55% 12 months so far in contrast with the index’s 11.4% acquire.
Evercore analyst C.J. Muse informed Barron’s late final 12 months that “[u]nder a Biden administration, the big winners are equipment suppliers,” together with Applied Materials. We just lately famous that Wall Street noticed the shares as a strategy to play the current chip shortage.
Applied Materials President and CEO Gary Dickerson bought 105,184 shares on April 9 for a complete of $14.7 million, a per-share common value of $140. Dickerson nonetheless owns 2.Four million shares, together with unvested efficiency shares and restricted inventory models, or RSUs, according to a form he filed with the Securities and Exchange Commission.
He wasn’t alone. Prabu Raja, a senior vice chairman within the semiconductor merchandise group, sold 50,000 shares on April 8 for $7 million, a mean value of $140.95 every. Raja now owns 426,724 shares, together with unvested efficiency shares and RSUs.
Applied Materials didn’t reply to a request to make the 2 executives accessible for remark.
Dickerson and Raja final bought inventory in late 2019. Dickerson sold a million shares in November 2019 for $61.1 million, a per-share common value of $61.11. Raja sold 50,000 shares in December 2019 for $3 million, a mean value of $60.73 every.
Inside Scoop is an everyday Barron’s function overlaying inventory transactions by company executives and board members—so-called insiders—in addition to giant shareholders, politicians, and different outstanding figures. Due to their insider standing, these buyers are required to reveal inventory trades with the Securities and Exchange Commission or different regulatory teams.
Write to Ed Lin at edward.lin@barrons.com and observe @BarronsEdLin.
