Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.6% After Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 1.6% during trading on Wednesday following insider selling activity. The stock traded as low as $160.62 and last traded at $160.85. Approximately 15,524,256 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 74,127,133 shares. The stock had previously closed at $163.46.

Specifically, Director Joseph A. Householder sold 6,572 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the transaction, the director now directly owns 2,197 shares in the company, valued at $457,151.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the sale, the director now directly owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 341,143 shares of company stock worth $62,580,844. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMD shares. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $225.00 in a research report on Tuesday. UBS Group lifted their target price on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their target price on shares of Advanced Micro Devices from $157.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. TD Cowen lifted their target price on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $185.59.

Advanced Micro Devices Stock Performance

The firm has a market cap of $250.63 billion, a PE ratio of 298.24, a PEG ratio of 2.35 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $180.16 and its 200 day simple moving average is $148.28.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.63 EPS for the current fiscal year.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after buying an additional 2,390,558 shares in the last quarter. State Street Corp grew its holdings in Advanced Micro Devices by 1.7% during the 1st quarter. State Street Corp now owns 65,045,249 shares of the semiconductor manufacturer’s stock valued at $6,375,083,000 after purchasing an additional 1,112,077 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after purchasing an additional 600,638 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Advanced Micro Devices by 5.9% during the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after purchasing an additional 1,490,997 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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.