Advanced Micro Devices (NASDAQ:AMD) EVP Forrest Eugene Norrod Sells 17,261 Shares

Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Forrest Norrod sold 17,261 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $503.05, for a total value of $8,683,146.05. Following the completion of the transaction, the executive vice president owned 363,317 shares in the company, valued at approximately $182,766,616.85. The trade was a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Forrest Eugene Norrod also recently made the following trade(s):

• On Monday, August 24th, Forrest Norrod sold 17,261 shares of Advanced Micro Devices stock. The stock was sold at an average price of $459.95, for a total value of $7,939,196.95.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $545.09 on Friday. The company has a market capitalization of $889.84 billion, a P/E ratio of 140.13, a P/E/G ratio of 5.31 and a beta of 2.48. The business has a fifty day simple moving average of $494.21 and a two-hundred day simple moving average of $413.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. Advanced Micro Devices, Inc. has a 1 year low of $149.85 and a 1 year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, analysts expect that Advanced Micro Devices, Inc. will post 6.43 earnings per share for the current year.

More Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Reports that AMD and other chipmakers may raise GPU and CPU prices by roughly 10% have fueled expectations for stronger pricing power and expanded margins. AMD Stock Soars 5% on Reports of GPU and CPU Price Increases
• Positive Sentiment: AMD is participating in a broad semiconductor rebound, with investors again emphasizing resilient AI-infrastructure spending and demand for data-center CPUs and GPUs. The move has also lifted technology-focused ETFs, including QQQ, where AMD is a significant holding. AMD Jumps as Semiconductor Rebound Continues
• Positive Sentiment: AMD is expanding support for SiFive’s RISC-V data-center servers through its open-source ROCm AI software. The effort could broaden ROCm’s hardware ecosystem and support more open alternatives for AI computing. AMD Expands ROCm Support to RISC-V Datacenter Servers
• Positive Sentiment: Micron said AMD is validating its new high-density 512GB DDR5 server memory module, highlighting AMD’s involvement in next-generation, memory-intensive server platforms. Micron’s New 512GB Memory Module Deepens Its AI Infrastructure Advantage
• Neutral Sentiment: Analyst commentary remains broadly constructive, with cited AMD price targets generally above recent trading levels. However, the stock’s valuation is demanding, making continued execution and AI product ramps important.
• Negative Sentiment: Executive Vice President Forrest Norrod sold 17,261 shares for approximately $8.7 million under a pre-arranged Rule 10b5-1 plan. The sale reduces his ownership by 4.54%, while broader reports show extensive AMD insider selling and no reported insider purchases during the past six months. SEC Form 4 Filing

Analyst Ratings Changes

Several research firms have recently issued reports on AMD. Wall Street Zen raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Piper Sandler started coverage on shares of Advanced Micro Devices in a research note on Tuesday. They issued an “overweight” rating and a $600.00 price objective for the company. Truist Financial boosted their target price on shares of Advanced Micro Devices from $478.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Rosenblatt Securities increased their target price on Advanced Micro Devices from $665.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Bank of America raised their price target on Advanced Micro Devices from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $565.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMD. Sarver Vrooman Wealth Advisors acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $27,000. Cornerstone Financial Management LLC purchased a new position in Advanced Micro Devices in the fourth quarter valued at $27,000. Basepoint Wealth LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $30,000. JNBA Financial Advisors increased its holdings in Advanced Micro Devices by 142.9% during the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Finally, Graney & King LLC acquired a new stake in Advanced Micro Devices in the 1st quarter valued at about $31,000. 71.34% of the stock is owned by institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.