Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 4.3% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded down 4.3% during trading on Tuesday following insider selling activity. The company traded as low as $474.98 and last traded at $484.39. Approximately 23,542,264 shares changed hands during trading, a decline of 34% from the average session volume of 35,461,281 shares. The stock had previously closed at $506.00.

Specifically, EVP Mark D. Papermaster sold 7,369 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $487.34, for a total value of $3,591,208.46. Following the transaction, the executive vice president directly owned 1,241,347 shares of the company’s stock, valued at $604,958,046.98. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Paul Darren Grasby sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $514.91, for a total value of $7,723,650.00. Following the sale, the executive vice president owned 117,687 shares of the company’s stock, valued at approximately $60,598,213.17. This represents a 11.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, SVP Ava Hahn sold 143 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $474.75, for a total transaction of $67,889.25. Following the transaction, the senior vice president owned 17,644 shares in the company, valued at approximately $8,376,489. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

AMD has been the topic of a number of research reports. Truist Financial upped their price objective on Advanced Micro Devices from $478.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HSBC downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and upped their price target for the company from $335.00 to $340.00 in a research note on Monday, May 4th. Barclays downgraded shares of Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a report on Friday, June 12th. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $615.00 to $700.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus lifted their price target on shares of Advanced Micro Devices from $450.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $546.87.

More Advanced Micro Devices News

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

• Positive Sentiment: AMD introduced Instinct Coder, an enterprise-focused AI coding solution designed to support private, on-premises AI deployments. The launch reinforces AMD’s effort to expand its Instinct accelerator ecosystem beyond hyperscale data centers. Advanced Micro Devices Unveils Instinct Coder For Private Enterprise AI
• Positive Sentiment: AMD reportedly reached its AI rack energy-efficiency target, a potentially important advantage as data-center operators focus increasingly on power consumption and operating costs. However, the announcement has not offset broader selling pressure. AMD Stock Slides Despite Progress on an AI Energy Efficiency Goal
• Positive Sentiment: Reports highlight AMD’s acquisition of a small Canadian AI-inference startup and its collaboration with Cerebras on Helios rack platforms. If successful, the initiatives could improve inference performance and broaden AMD’s competitive positioning against Nvidia. AMD’s Acquisition Could Redefine Direct-Silicon AI Inference

Advanced Micro Devices Trading Down 4.2%

The firm has a market capitalization of $791.49 billion, a price-to-earnings ratio of 124.64 and a beta of 2.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The firm’s 50-day simple moving average is $512.08 and its 200 day simple moving average is $370.08.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.Advanced Micro Devices’s revenue was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities analysts expect that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. Joseph Group Capital Management bought a new position in shares of Advanced Micro Devices during the fourth quarter worth about $25,000. Sarver Vrooman Wealth Advisors bought a new stake in Advanced Micro Devices in the 4th quarter valued at about $27,000. Cornerstone Financial Management LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $27,000. Basepoint Wealth LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $30,000. Finally, Graney & King LLC acquired a new stake in shares of Advanced Micro Devices in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.