Corporate Insiders are Dumping These 5 Tech Stocks

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Investors: 120

Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Lisa Su on February 21 sold 125,000 shares of the company at $163.35 per share. Since then through March 21 the stock price has seen an 8.8% jump. Advanced Micro Devices, Inc. (NASDAQ:AMD) shares recently jumped after Advanced Micro Devices, Inc. (NASDAQ:AMD) posted strong quarterly results. Analysts are turning bullish on the stock amid AI-related growth catalysts.

J.P. Morgan analyst Harlan Sur recently said in a note that Advanced Micro Devices, Inc. (NASDAQ:AMD) is positioned well due to “strong AI /accelerated compute server deployments with [High Bandwidth Memory 3E] already sold out for CY24 and the majority of CY25 supply having already been allocated.”

Jackson Peak Capital stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth quarter 2023 investor letter:

“On the long side of the portfolio, a core theme we remain invested behind is the data center infrastructure buildout and AI chips arms race that we’ve discussed since our first letter in Q2. Some skepticism has crept into the market, and it’s understandable given the huge ramp in 2023. However, our research continues to suggest 2023 was the start of a multi-year platform shift. Value will accrue to varying segments of the AI value chain at different parts of the cycle. We continue to see value in the “boots on the ground” winners in the data center buildout (Vertiv, Modine Manufacturing, Celestica). Our positioning in AI semiconductor companies (NVDA and Advanced Micro Devices, Inc. (NASDAQ:AMD)) has ebbed and flowed given we are cognizant (perhaps too much so) that these names are crowded positions across investor style types. We’ve done well in these chip stocks since inception and NVDA is currently a long, and we’re trying to “let winners run” while using sizing to risk manage these names due to the market-wide positioning bias in semiconductors.”