Forrest Eugene Norrod Sells 50,000 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock

Advanced Micro Devices, Inc. (NASDAQ:AMD) SVP Forrest Eugene Norrod sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $30.99, for a total value of $1,549,500.00. Following the transaction, the senior vice president now directly owns 964,600 shares of the company’s stock, valued at approximately $29,892,954. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Forrest Eugene Norrod also recently made the following trade(s):

  • On Monday, July 29th, Forrest Eugene Norrod sold 50,000 shares of Advanced Micro Devices stock. The stock was sold at an average price of $34.12, for a total value of $1,706,000.00.

Shares of AMD stock traded down $0.47 on Wednesday, reaching $29.76. 50,143,074 shares of the company’s stock traded hands, compared to its average volume of 73,114,391. Advanced Micro Devices, Inc. has a 12-month low of $16.03 and a 12-month high of $35.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.52 and a current ratio of 2.08. The company has a market capitalization of $33.11 billion, a P/E ratio of 85.03, a price-to-earnings-growth ratio of 2.66 and a beta of 3.07. The business’s 50 day moving average price is $31.40 and its two-hundred day moving average price is $28.88.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 0.48 earnings per share for the current year.

AMD has been the topic of several research reports. Piper Jaffray Companies assumed coverage on shares of Advanced Micro Devices in a research report on Monday, August 19th. They issued a “neutral” rating and a $33.00 price target on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. UBS Group lifted their price objective on shares of Advanced Micro Devices from $24.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Credit Suisse Group set a $30.00 target price on shares of Advanced Micro Devices and gave the stock a “neutral” rating in a report on Wednesday, July 31st. They noted that the move was a valuation call. Finally, Cowen set a $40.00 target price on shares of Advanced Micro Devices and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.59.

Large investors have recently added to or reduced their stakes in the business. Peddock Capital Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 151.5% during the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 615 shares during the period. Advisory Alpha LLC acquired a new position in Advanced Micro Devices in the 1st quarter valued at approximately $26,000. Berman Capital Advisors LLC increased its stake in Advanced Micro Devices by 99.4% in the 1st quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 537 shares during the period. First PREMIER Bank purchased a new stake in Advanced Micro Devices in the 2nd quarter worth approximately $30,000. Finally, Doyle Wealth Management purchased a new stake in Advanced Micro Devices in the 2nd quarter worth approximately $31,000. 64.73% of the stock is currently owned by institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its 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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