Advanced Micro Devices (NASDAQ:AMD) Shares Down 8.8% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 8.8% during trading on Friday after an insider sold shares in the company. The stock traded as low as $520.01 and last traded at $534.06. Approximately 48,689,260 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 32,445,775 shares. The stock had previously closed at $585.30.

Specifically, Director Nora Denzel sold 9,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $564.88, for a total transaction of $5,083,920.00. Following the transaction, the director owned 78,173 shares in the company, valued at approximately $44,158,364.24. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMD shares. Piper Sandler cut Advanced Micro Devices from an “overweight” rating to a “neutral” rating in a report on Thursday. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Thursday. Argus boosted their price target on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Raymond James Financial reissued a “strong-buy” rating and set a $649.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $640.11.

Latest Advanced Micro Devices News

Here’s some of the latest news about AMD:

• Positive Sentiment: AMD could benefit over time as cloud providers diversify AI-chip suppliers amid uncertainty at Nvidia. Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips also highlights demand beyond AMD’s GPU business. Article: How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Positive Sentiment: Some analysts remain bullish on AMD’s longer-term prospects: William Blair upgraded the stock, and Bank of America raised its price target to $700, citing growth opportunities and the product roadmap. Article: AMD Stock Upgraded as AI Chip Rival Nvidia Spirals
• Negative Sentiment: That rotation reversed as chip shares sold off broadly and investors unwound the rally. AMD had surged in recent sessions, leaving room for profit-taking; the Nasdaq’s decline and losses across major semiconductor names added pressure. Article: AMD Sinks as Chip Rally Unwinds

Advanced Micro Devices Stock Performance

The firm has a 50 day simple moving average of $552.99 and a 200-day simple moving average of $420.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.93. The company has a market cap of $875.91 billion, a price-to-earnings ratio of 116.10, a PEG ratio of 5.32 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The company had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. As a group, analysts predict that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Citizens Financial Corp lifted its holdings in Advanced Micro Devices by 3.4% during the 3rd quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer’s stock valued at $300,000 after purchasing an additional 16 shares during the last quarter. Fearless Solutions LLC dba Best Invest increased its holdings in shares of Advanced Micro Devices by 1.5% in the third quarter. Fearless Solutions LLC dba Best Invest now owns 1,174 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 17 shares during the last quarter. Private Client Services LLC increased its holdings in shares of Advanced Micro Devices by 1.7% in the third quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer’s stock valued at $660,000 after purchasing an additional 18 shares during the last quarter. Essential Investment Partners LLC raised its position in shares of Advanced Micro Devices by 40.0% in the third quarter. Essential Investment Partners LLC now owns 63 shares of the semiconductor manufacturer’s stock valued at $39,000 after purchasing an additional 18 shares during the period. Finally, CKW Financial Group raised its position in shares of Advanced Micro Devices by 1.3% in the third quarter. CKW Financial Group now owns 1,450 shares of the semiconductor manufacturer’s stock valued at $893,000 after purchasing an additional 18 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.