Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.4% After Insider Selling

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 2.4% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $153.34 and last traded at $154.63. Approximately 51,852,033 shares were traded during trading, an increase of 4% from the average daily volume of 49,860,472 shares. The stock had previously closed at $158.40.

Specifically, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMD shares. Citigroup cut their target price on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Saturday, June 15th. Truist Financial lowered their target price on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. KeyCorp reduced their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group lowered their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.83.

Advanced Micro Devices Price Performance

The firm has a 50-day moving average of $158.93 and a 200-day moving average of $163.38. The stock has a market cap of $249.93 billion, a PE ratio of 227.40, a PEG ratio of 1.83 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently bought and sold shares of the stock. Tradewinds Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. grew its holdings in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares in the last quarter. Valued Wealth Advisors LLC grew its holdings in Advanced Micro Devices by 70.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 70 shares in the last quarter. Chelsea Counsel Co. purchased a new stake in shares of Advanced Micro Devices during the 1st quarter worth approximately $34,000. Finally, Northwest Bank & Trust Co bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

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.