Applied Materials (AMAT) said late Wednesday it agreed to pay $252.5 million to the US Department of Commerce to resolve allegations of noncompliant shipments to China.

The allegations were about certain customer shipments between November 2020 and July 2022 that didn't comply with the US export administration regulations, based on the company's "misunderstanding of the applicability of those regulations," Applied Materials said.

The DOJ and the US Securities and Exchange Commission also concluded their related probes without action, the company said.