Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.8% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report)’s share price fell 0.8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $179.14 and last traded at $180.01. 18,176,068 shares changed hands during trading, a decline of 77% from the average session volume of 78,299,766 shares. The stock had previously closed at $181.42.

Specifically, EVP Forrest Eugene Norrod sold 59,293 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the sale, the executive vice president now directly owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The disclosure for this sale can be found here. Insiders have sold 324,943 shares of company stock worth $59,919,994 over the last ninety days. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMD has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Advanced Micro Devices from $128.00 to $193.00 and gave the company an “overweight” rating in a report on Monday, January 29th. UBS Group increased their price target on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Tuesday, January 30th. Bank of America boosted their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, New Street Research upgraded shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.82.

Get Our Latest Stock Analysis on AMD

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The stock has a market capitalization of $285.89 billion, a PE ratio of 343.62, a P/E/G ratio of 2.73 and a beta of 1.66. The stock’s 50-day moving average is $178.33 and its 200 day moving average is $138.50.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the prior year, the business earned $0.54 EPS. Advanced Micro Devices’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 2.67 earnings per share for the current year.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $3,426,529,000. Moneta Group Investment Advisors LLC grew its position in shares of Advanced Micro Devices by 105,415.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,526,710 shares of the semiconductor manufacturer’s stock valued at $552,275,000 after buying an additional 8,518,629 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Advanced Micro Devices during the 1st quarter worth approximately $777,111,000. Viking Global Investors LP acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $698,340,000. Finally, Northern Trust Corp raised its position in shares of Advanced Micro Devices by 35.5% during the 1st quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock worth $1,868,258,000 after buying an additional 4,475,368 shares in the last quarter. Institutional investors and hedge funds own 68.43% of the company’s stock.

About Advanced Micro Devices

(Get Free Report)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

Recommended Stories

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.