Applied Materials disclosed in its latest quarterly filing that both the U.S. Justice Department and the SEC have ended their probes following subpoenas over export-controls compliance—no enforcement action from either. The same document details a settlement, reached Feb. 11, with the Commerce Department’s Bureau of Industry and Security; the deal includes a $253 million payment and a suspended “denial order” that could block exports if terms aren’t met, but will be waived after three years if conditions hold. China was responsible for $2.095 billion, or 30%, of the company’s quarterly sales. Applied also noted it still has about $13.6 billion left for buybacks under its repurchase authorization.
