Insider Selling: Advanced Micro Devices, Inc. (AMD) Insider Sells 38,819 Shares of Stock
Advanced Micro Devices, Inc. (NASDAQ:AMD) insider Mark D. Papermaster sold 38,819 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.70, for a total value of $493,001.30. Following the completion of the transaction, the insider now directly owns 930,839 shares in the company, valued at approximately $11,821,655.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Advanced Micro Devices, Inc. (AMD) traded down 3.00% during midday trading on Wednesday, reaching $12.63. The company’s stock had a trading volume of 64,639,428 shares. The stock’s 50-day moving average price is $13.40 and its 200 day moving average price is $12.92. Advanced Micro Devices, Inc. has a 1-year low of $5.66 and a 1-year high of $15.65. The firm’s market capitalization is $11.96 billion.
Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. Advanced Micro Devices’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. Equities analysts anticipate that Advanced Micro Devices, Inc. will post $0.10 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the company. Trexquant Investment LP acquired a new stake in shares of Advanced Micro Devices during the first quarter worth about $706,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Advanced Micro Devices during the first quarter worth about $148,000. Janney Montgomery Scott LLC increased its stake in shares of Advanced Micro Devices by 91.0% in the first quarter. Janney Montgomery Scott LLC now owns 143,912 shares of the semiconductor manufacturer’s stock worth $2,094,000 after buying an additional 68,565 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Advanced Micro Devices by 392.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,995,898 shares of the semiconductor manufacturer’s stock worth $29,040,000 after buying an additional 1,590,293 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Advanced Micro Devices by 8.3% in the second quarter. Xact Kapitalforvaltning AB now owns 117,437 shares of the semiconductor manufacturer’s stock worth $1,466,000 after buying an additional 9,046 shares during the period. 56.37% of the stock is owned by institutional investors.
Several equities analysts have commented on AMD shares. Craig Hallum upped their price objective on Advanced Micro Devices from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research report on Tuesday, May 9th. Canaccord Genuity upped their price objective on Advanced Micro Devices from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 30th. Finally, Vetr raised Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price objective on the stock in a research report on Monday, June 26th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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