Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 8.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $24.91 and last traded at $25.00. Approximately 146,329,906 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 78,729,727 shares. The stock had previously closed at $27.24.

Specifically, insider Mark D. Papermaster sold 70,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $16.62, for a total transaction of $1,163,400.00. Following the completion of the sale, the insider now directly owns 1,127,949 shares in the company, valued at $18,746,512.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $27.14, for a total transaction of $1,696,250.00. Following the sale, the senior vice president now owns 930,790 shares of the company’s stock, valued at $25,261,640.60. The disclosure for this sale can be found here. Insiders sold 24,822,900 shares of company stock valued at $486,042,396 over the last quarter. Company insiders own 1.80% of the company’s stock.

Several equities research analysts recently issued reports on AMD shares. MED upgraded shares of Advanced Micro Devices to a “positive” rating in a research report on Thursday, October 4th. FBN Securities started coverage on shares of Advanced Micro Devices in a research report on Thursday, September 13th. They set an “outperform” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $30.00 price objective (up from $27.00) on shares of Advanced Micro Devices in a research report on Thursday, August 23rd. Goldman Sachs Group upgraded shares of Advanced Micro Devices from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $13.25 to $21.00 in a research report on Friday, August 10th. Finally, Stifel Nicolaus raised their price objective on shares of Advanced Micro Devices from $21.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.58.

The company has a current ratio of 1.66, a quick ratio of 1.26 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 312.50, a PEG ratio of 6.00 and a beta of 3.10.

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

A number of hedge funds have recently made changes to their positions in AMD. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 0.3% in the second quarter. Northern Trust Corp now owns 9,048,989 shares of the semiconductor manufacturer’s stock valued at $135,645,000 after purchasing an additional 27,328 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Advanced Micro Devices by 541.5% in the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after purchasing an additional 6,269,500 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Advanced Micro Devices by 84.8% in the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock valued at $101,473,000 after purchasing an additional 3,105,441 shares during the period. Millennium Management LLC boosted its stake in shares of Advanced Micro Devices by 1,311.0% in the first quarter. Millennium Management LLC now owns 6,700,103 shares of the semiconductor manufacturer’s stock valued at $67,336,000 after purchasing an additional 6,225,267 shares during the period. Finally, Carillon Tower Advisers Inc. boosted its stake in shares of Advanced Micro Devices by 107.7% in the second quarter. Carillon Tower Advisers Inc. now owns 5,432,501 shares of the semiconductor manufacturer’s stock valued at $81,432,000 after purchasing an additional 2,816,360 shares during the period. 65.96% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile (NASDAQ:AMD)

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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