Barron’s has revealed that Thomas M McCoy, the executive Vice-President for corporate and legal affairs at Advanced Micro Devices Inc. (NYSE: AMD), has sold 94000 shares of the company at an average price of $8.33 per share between the 21st and the 24th of May.
Miriam Gottfried of the Barron’s expresses that this sale, worth $787,000 from an insider has come in a time when AMD is facing fierce competition from Intel Corporation (NASDAQ: INTC). The share prices of AMD have climbed out of their recession lows owing in part to higher sales and an improved balance sheet.
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