AMD, Micron And 2 Other Stocks Insiders Are Selling

The S&P 500 closed almost flat on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

Micron Technology

• The Trade: Micron Technology, Inc. MU EVP, Technology & Products Scott Deboer sold a total of 20,000 shares at an average price of $70.00. The insider received around $1.4 million from selling those shares.
• What’s Happening: BMO Capital maintained an Outperform rating on the stock and raised its price target from $67 to $80.
• What Micron Technology Does: Micron is one of the largest suppliers of memory chips in the world, between DRAM and NAND.
• Have a look at our premarket coverage here

Urban Outfitters

• The Trade: Urban Outfitters, Inc. URBN CFO Melanie Marein-Efron sold a total of 16,036 shares at an average price of $31.24. The insider received around $500.92 thousand from selling those shares.
• What’s Happening: Urban Outfitters reported better-than-expected first-quarter results and a decline in inventories.
• What Urban Outfitters Does: Founded in 1970, Philadelphia-based Urban Outfitters is an apparel and home goods retailer that operates about 700 stores and e-commerce in North America (87% of fiscal 2023 sales) and other regions.

Deere & Company

• The Trade: Deere & Company DE Pres Ag & Turf, Sml Ag & Turf Markwart Pentz von sold a total of 7,110 shares at an average price of $356.69. The insider received around $2.54 million from selling those shares.
• What’s Happening: Deere & Company reported better-than-expected second-quarter financial results.
• What Deere Does: Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry.

Advanced Micro Devices

• The Trade: Advanced Micro Devices, Inc. AMD EVP & GM DESG Forrest Eugene Norrod sold a total of 25,000 shares at an average price of $119.35. The insider received around $2.98 million from selling those shares.
• What’s Happening: B of A Securities recently raised its price target on the stock from $105 to $120.
• What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of its sales are in the personal computer and data center markets via CPUs and GPUs.

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