Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.5% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded down 1.5% during trading on Monday after an insider sold shares in the company. The company traded as low as $206.58 and last traded at $207.58. 26,864,779 shares were traded during trading, a decline of 45% from the average session volume of 49,260,121 shares. The stock had previously closed at $210.78.

Specifically, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.14, for a total value of $26,892,500.00. Following the transaction, the chief executive officer directly owned 3,277,476 shares of the company’s stock, valued at $705,116,186.64. This represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMD shares. Weiss Ratings restated a “hold (c+)” rating on shares of Advanced Micro Devices in a research note on Monday, December 8th. Morgan Stanley reissued an “equal weight” rating and issued a $260.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Evercore ISI upped their target price on shares of Advanced Micro Devices from $270.00 to $283.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Susquehanna reiterated a “positive” rating and issued a $300.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 31st. Finally, Wells Fargo & Company boosted their price objective on Advanced Micro Devices from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $278.54.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $337.95 billion, a price-to-earnings ratio of 102.76, a P/E/G ratio of 1.56 and a beta of 1.93. The stock has a 50 day simple moving average of $231.19 and a 200 day simple moving average of $180.70. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The business had revenue of $9.25 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 35.6% on a year-over-year basis. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently modified their holdings of AMD. Norges Bank bought a new position in Advanced Micro Devices during the second quarter valued at about $3,094,662,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $958,422,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Advanced Micro Devices by 131.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock valued at $1,069,846,000 after purchasing an additional 5,915,185 shares in the last quarter. Parnassus Investments LLC raised its stake in shares of Advanced Micro Devices by 47,883.5% in the first quarter. Parnassus Investments LLC now owns 4,142,418 shares of the semiconductor manufacturer’s stock valued at $425,592,000 after purchasing an additional 4,133,785 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Advanced Micro Devices in the third quarter worth $626,826,000. Institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

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.