Insider Selling: Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Sells 10,000 Shares of Stock

Key Points

• Paul Darren Grasby, Executive Vice President of Advanced Micro Devices, sold 10,000 shares at an average price of $173.21, totaling approximately $1.73 million, reducing his ownership by 7.38%.
• Advanced Micro Devices' stock has seen a 1.5% increase on the trading day, reaching $174.95, with an annual market cap of approximately $283.92 billion.
• The company's latest quarterly earnings report missed estimates, with earnings per share at $0.48 compared to the consensus of $0.54, but revenue was up 31.7% year-over-year.

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Paul Darren Grasby sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the transaction, the executive vice president owned 125,505 shares in the company, valued at approximately $21,738,721.05. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Advanced Micro Devices Stock Up 1.5%

Shares of AMD stock traded up $2.67 during mid-day trading on Tuesday, reaching $174.95. 52,182,998 shares of the company's stock traded hands, compared to its average volume of 46,354,746. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $182.50. The company has a market cap of $283.92 billion, a P/E ratio of 100.55, a P/E/G ratio of 2.07 and a beta of 1.94. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The company's 50-day moving average price is $145.71 and its 200-day moving average price is $118.52.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. Advanced Micro Devices's revenue was up 31.7% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinney & Scofield Inc. raised its holdings in Advanced Micro Devices by 81.0% in the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 85 shares in the last quarter. Greenline Partners LLC bought a new position in Advanced Micro Devices in the fourth quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC increased its holdings in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Kozak & Associates Inc. increased its holdings in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price target on the stock in a research note on Thursday, July 10th. Evercore ISI raised their price target on shares of Advanced Micro Devices from $144.00 to $188.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Susquehanna raised their price objective on shares of Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Finally, Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a "buy" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.21.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

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