Advanced Micro Devices (AMD) EVP Norrod Sells $9.3M of Stock

By TradeTexts Research Desk Oct 19, 2026, 5:02 PM EDT

Advanced Micro Devices, Inc. (AMD) business photo

Key Points

Advanced Micro Devices EVP & GM Forrest Eugene Norrod sold 17,262 shares of the company on October 15, 2026, for about $9.3 million.
After the trade, Forrest Eugene Norrod holds 353,317 $AMD shares, down 4.66% from before the trade.
Institutional investors like Generate Investment Management and Curated Wealth Partners adjusted their holdings in the semiconductor firm recently.
The chipmaker trades near $537.76 with a consensus strong buy rating from Wall Street analysts.

Since the trade, $AMD is down 4.2% to date (from the $562.23 close on Oct 15, 2026).

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Advanced Micro Devices, Inc. (NasdaqGS: AMD) EVP & GM Forrest Eugene Norrod sold 17,262 shares of the company on October 15, 2026. According to a Form 4 filed with the SEC, the transaction was executed at a price of $540.70 per share, totaling roughly $9.3 million.

AMD Advanced Micro Devices, Inc.

$538.62 +141.03% year to date

Daily close · Oct 19, 2026

Inside Forrest Eugene Norrod's AMD Trade

The sale was carried out under a pre-arranged Rule 10b5-1 trading plan. Following the transaction, Norrod held 353,317 shares of the company. This trade reduced his stake by about 4.66%. The stock closed at $562.23 on the day of the trade.

Other Institutional Activity

Generate Investment Management cut its holdings by 48,947 shares, ending with 2,724 shares worth about $1.7 million. Curated Wealth Partners trimmed 538,657 shares, leaving it with 5,236 shares valued at roughly $3.2 million. Epoch Investment Partners grew its stake by 84,577 shares to hold 225,822 shares valued at about $127.6 million. Fisher Asset Management reduced its holdings by 9,314 shares, finishing with 615,113 shares worth roughly $347.5 million. Charles Schwab Trust added 600 shares, ending with 600 shares valued at about $367,056.

Advanced Micro Devices, Inc. Stock Down 5.8%

The chipmaker's shares recently traded around $537.76 as of October 19, 2026. The stock sits below its 52-week high of $658.52 and well above its 52-week low of $188.22.

Recent Earnings

The semiconductor firm reported trailing-twelve-month revenue of $41.3 billion and earnings of $3.92 per share. The company has a price-to-earnings ratio of 143.43 and a forward P/E of 35.69. Its next earnings report is scheduled for November 3, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 71/100

Reported May 5, 2026

Forward outlook
21 analysts raised price targets.
EPS & revenue
EPS beat estimates by 4.8%. Revenue beat estimates by 2.6%.
Profit surprise
EBITDA missed by 4 percent. Operating income missed by 32 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
3 upgrades, 2 downgrades, 21 target raises.
Earnings quality
Gross margin up 2.6 points. Operating margin up 3.6 points. Positive free cash flow.

Earnings Call Summary

AMD reported outstanding first quarter results with $10.3 billion in revenue, up 38 percent year over year. Data center revenue surged 57 percent driven by strong demand for EPYC server CPUs and Instinct GPUs. Management emphasized that Agentic AI and inference workloads are driving substantially higher CPU demand than expected, requiring more compute than prior models. Free cash flow nearly tripled to $2.6 billion, and operating margin expanded to 25 percent, showing strong operational leverage as the business scales into AI infrastructure.

Guidance AMD guided next quarter revenue to about $11.2 billion, up 46 percent year over year. Management raised full year data center CPU growth forecast to over 70 percent, driven by strong Agentic AI demand. They also raised the long-term server CPU market size forecast to over $120 billion by 2030, from $60 billion announced in November.

Slightly positive report. The quarter was acceptable, but the forward setup is not strong.

Insider Buying and Selling at Advanced Micro Devices, Inc.

Earlier insider transactions included multiple sales by company executives over the prior months. Norrod sold 17,261 shares on August 24, 2026, and another 17,261 shares on September 15, 2026. Chief Financial Officer Jean X Hu sold 15,000 shares on August 25, 2026. Chief Executive Officer Lisa T Su sold 95,000 shares on September 10, 2026.

Analysts Set New Price Targets

Wall Street firms maintain positive outlooks on the stock. StoneX reiterated a buy rating with a $685 target on September 29, 2026. Rosenblatt maintained a buy rating with a $700 target on the same day. Stifel maintained a buy rating, raising its target to $700 from $635 on October 5, 2026. Citigroup maintained a buy rating and lifted its target to $800 on October 6, 2026. Mizuho maintained an outperform rating with a $705 target on October 6, 2026. The stock carries a consensus strong buy rating from 50 analysts, with a mean price target of $636.21.

About Advanced Micro Devices

Advanced Micro Devices, Inc. is a Santa Clara, California-based semiconductor company operating internationally in the data center, client and gaming, and embedded markets. Executive transactions and institutional portfolio shifts offer insight into how key insiders manage their equity as the firm develops high-performance processors and accelerators.

Bottom Line

Investors will watch for the company's upcoming earnings release on November 3, 2026, to gauge demand across its core segments. Future SEC filings will show whether executives continue trimming shares under planned trading schedules.