Insider Selling: John Byrne Sells 75,000 Shares of Advanced Micro Devices Stock (AMD)
Advanced Micro Devices (NYSE:AMD) SVP John Byrne sold 75,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $4.19, for a total transaction of $314,250.00. Following the completion of the sale, the senior vice president now directly owns 85,338 shares in the company, valued at approximately $357,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Advanced Micro Devices (NYSE:AMD) traded down 0.72% on Wednesday, hitting $4.16. The stock had a trading volume of 7,303,374 shares. Advanced Micro Devices has a 52-week low of $3.04 and a 52-week high of $4.80. The stock’s 50-day moving average is $4.11 and its 200-day moving average is $4.00. The company has a market cap of $3.185 billion and a P/E ratio of 39.16. Advanced Micro Devices also was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 139,917,853 shares, a decline of 8.7% from the July 31st total of 153,192,755 shares. Based on an average trading volume of 28,957,312 shares, the days-to-cover ratio is presently 4.8 days. Approximately 22.7% of the company’s stock are short sold.
Advanced Micro Devices (NYSE:AMD) last announced its earnings results on Thursday, July 17th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $0.12 EPS for the current fiscal year.
A number of research firms have recently commented on AMD. Analysts at Zacks downgraded shares of Advanced Micro Devices from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $4.25 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Advanced Micro Devices in a research note on Friday, July 18th. They now have a $3.50 price target on the stock, down previously from $4.00. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.95.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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