Though it started the year very strong, the semiconductor giant and Nvidia’s (NASDAQ: NVDA) arguably biggest competitor, Advanced Micro Devices (NASDAQ: AMD), has been struggling in recent weeks.
Indeed, having peaked in early March, the chipmaker has been on a decisive downtrend with its most recent earnings report, published at the very end of April, doing little to help stop the fall.
Despite the pain, experts and analysts remained optimistic about AMD stock, opining that the upcoming quarter will not be pivotal and that, in the long run, there is little reason to expect much other than growth for the semiconductor company.
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AMD CEO sells in May
The generally positive outlook has, however, failed to prevent Lisu Su, the CEO and Chair of AMD, from making the first insider sale of the chipmaker’s stock in just under a month.
According to a May 10 filing with the Securities and Exchange Commission, Su sold a total of 125,000 shares at the average price of $153.74 making approximately $19 million on the trade.
The transaction, completed on May 8, is CEO Su’s first sale of AMD stock since mid-March, when she also offloaded 125,000, making approximately $24 million.
At the time of publication, the executive holds another 3.1 million shares of Advanced Micro Devices worth just under $466 million in total.
AMD stock price chart
The most recent insider sale comes as AMD is in increasing danger of turning into the red in the year-to-date (YTD) chart.
Indeed, though the chipmaker’s stock is still, at press time, up 8.24% since January 2, it has already erased much of its earlier gains and is down 28.8% since its yearly highs above $210.
More recent trading has been particularly negative for Advanced Micro Devices, and the company’s stock is 6.52% down in the last 30 days and has declined 2.90% in the last full week of trading.
Finally, the latest full session has not been better for the semiconductor company, and it has fallen a further 0.90%. AMD price today, at the time of publication, stands at $149,94.
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