Raja Prabu G., serving as President of the Semiconductor Products Group at Applied Materials Inc. (NASDAQ:AMAT), has executed a transaction involving the sale of 10,000 shares of the company’s common stock. The transaction, finalized on June 18, 2026, generated proceeds totaling approximately $6,335,300. The shares were sold at prices fluctuating between $633.51 and $633.79 per share, resulting in a weighted average sale price of $633.53.
This insider sale takes place as Applied Materials stock trades near its 52-week high of $641.18. The company has delivered a substantial 281% return over the past year. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, placing it among the most overvalued stocks in the market.
Following this transaction, Mr. Prabu G. indirectly holds 346,642 shares of common stock through a living trust. He also directly holds 100,663 shares of common stock. This direct holding includes 100,517 performance share units and restricted stock units. These units are scheduled to convert into shares of Applied Materials common stock upon vesting. Vesting is set to occur in installments from December 2026 through 2028. The actual number of shares vesting from performance share units may range from 0% to 200% of the target amount, depending on the achievement of specified performance goals. All vesting is contingent on continued employment.
In other recent developments, Applied Materials Inc. announced the launch of SENZ, an integrated visual platform for augmented reality smart glasses. This new platform aims to streamline manufacturing by providing a complete system, which includes waveguide optics and electronic dimming technology. Additionally, the company declared a quarterly dividend of $0.53 per share, payable to shareholders in September 2026.
Applied Materials also plans to expand its workforce in Southeast Asia by 25%, adding approximately 1,000 new positions, primarily in Singapore, as the region becomes more significant for their operations.
Cantor Fitzgerald has raised its price target for Applied Materials to $650, maintaining an Overweight rating. The firm cites demand in chip equipment as a key driver. Cantor Fitzgerald highlighted that leading-edge foundry and logic are significant growth areas for wafer fabrication equipment. Furthermore, the firm reiterated its Overweight rating and $575 price target, noting the company’s early involvement in the AI sector. Applied Materials’ management believes AI will significantly impact compute demand and innovation in materials and system solutions.