Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) were down 5.3% during trading on Thursday . The stock traded as low as $491.80 and last traded at $500.94. 26,911,360 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 36,762,039 shares. The stock had previously closed at $529.14.
Key Headlines Impacting Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: BNP Paribas raised its price target on AMD to $600, signaling confidence in the long-term AI cycle even as it expects a muted near-term earnings season. AMD’s $600 Target Isn’t Really About AMD
- Positive Sentiment: KeyBanc lifted its AMD price target after Asia supply-chain checks, reinforcing the view that demand remains intact for chipmakers. NVDA, MU, AMD: KeyBanc Raises Price Targets After Asia Supply Chain Checks
- Positive Sentiment: AMD also announced Alan Smith as its newest Corporate Fellow, highlighting continued technical leadership in GPU architecture and AI computing. AMD Appoints Alan Smith as Newest Corporate Fellow
- Positive Sentiment: Recent analyst updates continued to be constructive, including higher targets from Goldman Sachs, UBS, Rosenblatt, and others, which helps offset short-term sentiment weakness. Advanced Micro Devices, Inc. (AMD) Stock Surges as Goldman Sees Big Earnings Coming
Wall Street Analysts Forecast Growth
AMD has been the subject of several analyst reports. Truist Financial set a $478.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 6th. The Goldman Sachs Group increased their target price on Advanced Micro Devices from $450.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Bank of America raised their price target on Advanced Micro Devices from $550.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen raised their target price on Advanced Micro Devices from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday. Finally, William Blair began coverage on Advanced Micro Devices in a research note on Thursday, July 9th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $468.65.
Advanced Micro Devices Trading Down 5.3%
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The business has a fifty day simple moving average of $501.23 and a 200 day simple moving average of $326.46. The stock has a market cap of $816.83 billion, a price-to-earnings ratio of 164.24, a PEG ratio of 1.61 and a beta of 2.47.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business’s revenue was up 37.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.18 EPS for the current year.
Insider Buying and Selling at Advanced Micro Devices
In related news, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $536.33, for a total value of $3,217,980.00. Following the completion of the transaction, the executive vice president directly owned 1,233,687 shares in the company, valued at approximately $661,663,348.71. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the transaction, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 341,630 shares of company stock valued at $152,147,456. Corporate insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On Advanced Micro Devices
A number of hedge funds have recently made changes to their positions in AMD. Brighton Jones LLC increased its holdings in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after acquiring an additional 234 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Advanced Micro Devices by 125.1% in the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock valued at $758,000 after acquiring an additional 2,970 shares during the last quarter. United Bank grew its position in Advanced Micro Devices by 22.0% during the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock valued at $1,881,000 after acquiring an additional 2,392 shares during the period. Finally, Schnieders Capital Management LLC. increased its stake in Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock worth $1,310,000 after acquiring an additional 7,228 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.
Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.
Recommended Stories
- Five stocks we like better than Advanced Micro Devices
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.
