TLDR
- Applied Materials CEO Gary Dickerson sold roughly $49.2 million in AMAT stock on June 15–16, 2026
- In total, insiders including the CTO and a Director offloaded around $65 million worth of stock
- AMAT has gained 13.8% over the past five days and is up more than 131% year-to-date
- Despite the selling, 28 analysts rate AMAT a Strong Buy with a consensus price target of $541.74
- The stock is currently trading above analyst targets and is flagged as overvalued relative to Fair Value
Applied Materials (AMAT) stock is trading near $593, up over 131% year-to-date, after a strong AI-driven rally that has pushed the stock close to its 52-week high of $623.35.
That rally prompted some of the company’s top executives to cash in. On June 15 and 16, 2026, several insiders filed Form 4 disclosures with the SEC, revealing sales totaling around $65 million.
CEO Gary Dickerson led the pack. He sold a combined 83,000 shares across the two days, bringing in roughly $49.2 million at weighted average prices between $590.03 and $599.35 per share.
He also gifted 17,000 shares at $0.00 per share on June 16. Following all transactions, Dickerson still directly holds 1,678,164 shares, including performance share units and restricted stock units.
CTO Omkaram Nalamasu sold 28,062 shares for approximately $16.66 million, at prices ranging from $590.00 to $597.18. Director Thomas Iannotti added $5.55 million in sales on the same day.
SVP Timothy Deane sold a separate 8,621 shares on June 15 for just over $5 million, per his own Form 4 filing.
Insider selling doesn’t always signal trouble. Executives routinely sell stock for personal financial planning, tax reasons, or portfolio diversification. But the volume here is hard to ignore.
TipRanks’ data shows $90.7 million in “Informative Sell” transactions over the past three months at AMAT, earning the stock a “Very Negative Insider Confidence Signal” on the platform.
What’s Been Driving the Rally
AMAT stock has been lifted by a wave of positive catalysts. The company launched new deposition and etch systems designed to support AI chip production and high-bandwidth memory (HBM) manufacturing.
It also announced a partnership with EssilorLuxottica to develop AI-powered smart glasses, alongside a new integrated visual platform called SENZ targeting augmented reality wearables.
Cantor Fitzgerald raised its price target on AMAT to $650, keeping an Overweight rating. The firm pointed to demand for wafer fabrication equipment, gate-all-around node activity, and AI-driven semiconductor spending as key growth drivers.
Where Analysts Stand
Wall Street is largely still bullish. AMAT holds a Strong Buy consensus on TipRanks, backed by 28 Buy ratings and one Hold. The average price target sits at $541.74.
The catch: with AMAT currently trading around $593, the stock is already sitting above that average target. That implies roughly 8.6% downside from current levels, not upside.
InvestingPro flags the stock as trading in overbought territory, and places it among the most overvalued names in the semiconductor equipment sector relative to its Fair Value estimate.
Twenty-six analysts have revised earnings estimates upward recently, suggesting the business momentum remains intact even as valuation concerns mount.
Applied Materials also declared a quarterly cash dividend of $0.53 per share, payable in September 2026, and announced plans to grow its Southeast Asia workforce by 25%, adding around 1,000 positions primarily in Singapore.
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