VTI fell 1.5% in the latest session, based on Polygon price data, as weakness in several large technology names weighed on the broad market fund. AMD was one of the key drags, with its shares dropping 7.1% and adding pressure to VTI because the chipmaker still accounts for 0.8% of the ETF’s holdings.
The move in VTI also reflected losses across other major constituents, including Nvidia, Broadcom, Microsoft, Tesla, Meta, Intel, Oracle, Micron, and Lam Research. Among the biggest contributors, Nvidia fell 4.3%, Broadcom dropped 5.6%, Microsoft slipped 1.7%, and Tesla declined 4.1%, showing that the pullback was not limited to a single stock.
AMD’s decline added to the ETF’s weakness
AMD’s 7.1% slide stood out because it came on top of broader losses in semiconductor and software names. The stock’s weight in VTI is smaller than Nvidia’s 6.6% or Microsoft’s 4.4%, but sharp declines in highly owned holdings can still influence the ETF’s daily direction.
Other holdings also moved lower in a way that reinforced the same pattern. Micron fell 6.7%, Intel lost 7.3%, Oracle dropped 7.7%, and Lam Research slipped 5.4%, creating a broad negative tone across the technology segment inside the fund.
Insider selling has remained one-sided at AMD
Quiver Quantitative’s insider-trading data shows AMD insiders traded the stock 83 times on the open market over the past six months, and all 83 transactions were sales. No insider purchases were reported during that period, which can attract investor attention even though it does not by itself explain short-term price moves.
Chair, President and CEO Lisa Su accounted for the largest reported activity, with 51 sales totaling 460,000 shares for an estimated $126,270,296. Other notable sales included Mark D. Papermaster’s 70,756 shares for about $21,297,940 and Forrest Eugene Norrod’s 38,937 shares for about $12,623,752.
Analysts still see support for AMD
Despite the stock’s decline, Wall Street coverage has stayed constructive. Quiver Quantitative noted that three firms issued buy or overweight ratings in recent months, with no sell ratings reported in that period.
Recent calls included Goldman Sachs with a “Buy” rating, Wells Fargo with “Overweight,” and Keybanc with “Overweight.” Price targets have also remained wide-ranging, with 29 analysts setting targets over the past six months and a median target of $450.0.
Recent targets included $665.0 from Barclays, $600.0 from TD Cowen, $615.0 from Mizuho, $579.0 from Evercore ISI Group, and $460.0 from Citigroup. The mixed signal from analyst optimism, insider selling, and a sharp daily drop in AMD helps explain why the stock’s move was large enough to weigh on VTI’s performance.
Read more at: www.quiverquant.com