Some in the blogosphere have taken notice that AMD director Claflin Bruce L. sold off 3,447 shares of Advanced Micro Devices, as reported in an SEC filing on Friday. Claflin, who served as 3Com's CEO prior to joining in August 2003 , was listed as the Sunnyvale chip maker's "Director" within the filing rather than his full title of Executive Chairman of the Board.
Claflin's financial dealing was first reported by MMD Newswire and picked up by Fudzilla , both of which note this is the first time he has sold stock in the past year. He hasn't purchased any, either. However, insider trading at AMD is far from new.
MMD Newswire notes that 455,031 shares of company stock were sold by company men and women over the past 12 months, totaling more than $4 million. At the same time, only 12,000 shares of AMD worth around $99,000 were purchased by company insiders.
Perhaps much ado about nothing, at the current stock price ($5.66 per share), Claflin's stock unload would have netted him less than $20,000. AMD stock was trading at around $7.50 per share when Claflin came on board almost eight and a half years ago.