Advanced Micro Devices (AMD) Stock Price Down 0.2% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 0.2% on Wednesday after an insider sold shares in the company. The company traded as low as $18.27 and last traded at $18.44. 4,705,988 shares changed hands during trading, a decline of 93% from the average session volume of 64,786,068 shares. The stock had previously closed at $18.41.

Specifically, CFO Devinder Kumar sold 113,519 shares of the firm’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $13.14, for a total transaction of $1,491,639.66. Following the sale, the chief financial officer now owns 521,852 shares of the company’s stock, valued at approximately $6,857,135.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Darla M. Smith sold 13,243 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $13.77, for a total value of $182,356.11. Following the sale, the chief accounting officer now directly owns 19,389 shares in the company, valued at approximately $266,986.53. The disclosure for this sale can be found here. Insiders have sold a total of 1,261,341 shares of company stock worth $19,629,914 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

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Several brokerages recently commented on AMD. Cowen reaffirmed an “outperform” rating and set a $25.00 price objective (up previously from $21.00) on shares of Advanced Micro Devices in a research note on Thursday, July 26th. TheStreet raised Advanced Micro Devices from a “c” rating to a “b-” rating in a research note on Wednesday, July 25th. Mizuho reissued a “buy” rating and issued a $20.00 price target on shares of Advanced Micro Devices in a research note on Thursday, July 26th. BMO Capital Markets reissued a “hold” rating and issued a $14.00 price target on shares of Advanced Micro Devices in a research note on Thursday, July 26th. Finally, Argus lifted their price target on Advanced Micro Devices to $23.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.85.

The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 229.13, a PEG ratio of 6.80 and a beta of 2.82. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.66 and a quick ratio of 1.26.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. Advanced Micro Devices’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. equities analysts forecast that Advanced Micro Devices, Inc. will post 0.37 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its holdings in Advanced Micro Devices by 22.1% during the first quarter. Coldstream Capital Management Inc. now owns 22,570 shares of the semiconductor manufacturer’s stock worth $227,000 after purchasing an additional 4,085 shares during the period. Cornerstone Wealth Management LLC bought a new position in Advanced Micro Devices during the second quarter worth about $275,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Advanced Micro Devices by 5.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 86,250 shares of the semiconductor manufacturer’s stock worth $866,000 after purchasing an additional 4,400 shares during the period. Private Advisor Group LLC grew its holdings in Advanced Micro Devices by 33.7% during the first quarter. Private Advisor Group LLC now owns 18,011 shares of the semiconductor manufacturer’s stock worth $181,000 after purchasing an additional 4,538 shares during the period. Finally, Profund Advisors LLC grew its holdings in Advanced Micro Devices by 2.3% during the first quarter. Profund Advisors LLC now owns 206,893 shares of the semiconductor manufacturer’s stock worth $2,079,000 after purchasing an additional 4,553 shares during the period. Institutional investors own 63.57% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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The pizza chain hired Endeavor Global Marketing, which is part of a massive media conglomerate headed by Hollywood heavyweight Ari Emanuel. The deal with Endeavor will replace the company's previous deal with an ad agency called Laundry Service, a Papa John's spokesman confirmed.

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In his initial statement, Schnatter apologized. But he later expressed remorse over his decision to walk away from the company, and he accused Laundry Service of trying to extort him. Schnatter also accused the board of not "doing any investigation" and said its decision to remove him as chairman was based on "rumor and innuendo," according to a letter he sent to the board earlier this month.

In a lawsuit filed last week, Schnatter's lawyers say he is seeking to inspect company documents "because of the unexplained and heavy-handed way in which the company has treated him since the publication of a story that falsely accused him of using a racial slur."

Schnatter remains on the board as a director. He owns 29% of Papa John's stock.

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