Insider Selling: Advanced Micro Devices, Inc. (NASDAQ:AMD) Insider Sells 126,438 Shares of Stock
Advanced Micro Devices, Inc. (NASDAQ:AMD) insider Mark D. Papermaster sold 126,438 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $13.18, for a total transaction of $1,666,452.84. Following the completion of the sale, the insider now directly owns 1,086,522 shares of the company’s stock, valued at approximately $14,320,359.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 2.36% during midday trading on Monday, hitting $13.43. 57,445,803 shares of the stock traded hands. The company’s market capitalization is $12.69 billion. Advanced Micro Devices, Inc. has a 52 week low of $5.66 and a 52 week high of $15.65. The stock’s 50-day moving average price is $13.36 and its 200 day moving average price is $12.73.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted ($0.05) EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post $0.10 EPS for the current year.
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A number of large investors have recently bought and sold shares of AMD. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after buying an additional 15,661,774 shares in the last quarter. Wellington Management Group LLP raised its stake in Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after buying an additional 13,939,494 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $129,039,000. MARSHALL WACE ASIA Ltd purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $63,654,000. Finally, Marshall Wace North America L.P. purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $63,654,000. Institutional investors own 57.34% of the company’s stock.
A number of brokerages have recently weighed in on AMD. BMO Capital Markets downgraded shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, June 23rd. Northland Securities reaffirmed a “buy” rating and set a $17.50 price target on shares of Advanced Micro Devices in a report on Friday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 price target (up previously from $8.00) on shares of Advanced Micro Devices in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $14.00 price target (up previously from $12.00) on shares of Advanced Micro Devices in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Advanced Micro Devices has a consensus rating of “Hold” and a consensus price target of $14.18.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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