Advanced Micro Devices (NASDAQ:AMD) EVP Sells $8,406,691.80 in Stock

Key Points

• AMD EVP Forrest Eugene Norrod sold 19,487 shares on May 20 for about $8.41 million under a pre-arranged Rule 10b5-1 trading plan. After the sale, he still held 324,527 shares valued at roughly $140 million.
• AMD shares were trading sharply higher, up 4.0% to $467.51, near their 52-week high of $481.41. The stock has also surged well above its 50-day and 200-day moving averages.
• Fundamentals and outlook remain strong: AMD beat quarterly earnings and revenue estimates, and analysts have turned more bullish with several price-target increases. The consensus rating is now Moderate Buy with a target price of $410.

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Forrest Eugene Norrod sold 19,487 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the sale, the executive vice president owned 324,527 shares of the company's stock, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Advanced Micro Devices Stock Up 4.0%

Shares of NASDAQ AMD traded up $17.92 during midday trading on Friday, hitting $467.51. 34,644,236 shares of the stock traded hands, compared to its average volume of 39,170,523. The company has a market cap of $762.32 billion, a PE ratio of 153.28, a P/E/G ratio of 1.33 and a beta of 2.40. Advanced Micro Devices, Inc. has a one year low of $107.67 and a one year high of $481.41. The business has a 50 day moving average price of $292.17 and a two-hundred day moving average price of $245.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices's quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the business. Joseph Group Capital Management bought a new position in Advanced Micro Devices in the 4th quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $27,000. Sarver Vrooman Wealth Advisors purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $27,000. Basepoint Wealth LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $30,000. Finally, Graney & King LLC purchased a new position in shares of Advanced Micro Devices in the 1st quarter worth about $31,000. 71.34% of the stock is currently owned by institutional investors.

Key Headlines Impacting Advanced Micro Devices

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
• Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
• Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
• Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
• Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of recent research reports. Sanford C. Bernstein raised Advanced Micro Devices from a "market perform" rating to an "outperform" rating and upped their price target for the company from $265.00 to $525.00 in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price target on Advanced Micro Devices to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Phillip Securities upgraded shares of Advanced Micro Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Sunday, February 8th. Finally, TD Cowen lifted their price objective on shares of Advanced Micro Devices from $290.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $410.00.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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