AMD Executive VP Forrest Norrod Sells Over 59,000 Shares

Forrest Eugene Norrod, the Executive Vice President of Advanced Micro Devices, Inc. (AMD), has reportedly sold 59,293 shares of the company on February 2nd. The shares were sold at an average price of $175.94, amounting to a total of $10,432,010.42. Following the sale, Norrod continues to hold 258,690 shares in the company, which are valued around $45.5 million.

Stock Market Performance

AMD's stock commenced trading at $167.88 on a recent Wednesday. Currently, the company holds a market capitalization of $271.26 billion, PE ratio of 322.85, and a PEG ratio of 2.44. With a beta of 1.63, it shows moderate volatility against the market. The 50-day and 200-day moving averages are $148.02 and $122.19 respectively. AMD's yearly performance shows a low and high of $75.92 and $184.92.

For the recent quarter ending on January 30th, AMD reported earnings per share of $0.77, aligned with analysts' expectations. Revenue stood at $6.17 billion, slightly above the forecast of $6.13 billion, indicating a 10.2% rise from the prior year. The net margin was at 3.77% and return on equity reached 5.73%.

Analyst Perspectives

An array of analysts have recently assessed AMD's stock, with varying opinions. Melius Research and Mizuho have rated the company as a 'buy', with price targets suggesting optimism, while Truist Financial is more cautious with a 'hold' rating. Overall, the consensus among analysts is a 'Moderate Buy' with a target price leaning towards $177.88.

Institutional Investments

Recent adjustments in AMD stock holdings have been observed within the institutional investors' community. Norges Bank and Jennison Associates LLC notably increased their stakes, while Moneta Group Investment Advisors LLC and Renaissance Technologies LLC have also made significant new investments in the stock. Northern Trust Corp expanded its shares held by 35.5%. Collectively, institutional investors own 68.43% of AMD's stock.

About AMD

AMD operates globally, offering a range of products including x86 microprocessors, GPUs, and semi-custom SoC products among others. They cater to various market segments including Data Center, Client, Gaming, and Embedded segments.

AMD, Stock, Sale