Key Points
- AMD EVP Forrest Eugene Norrod sold 19,487 shares on May 20 at an average price of $431.40, for proceeds of about $8.4 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- AMD shares were trading up 4.0% and opened at $467.51, near their 52-week high of $481.41. The stock has surged well above its 50-day and 200-day moving averages.
- AMD’s latest earnings beat expectations, with EPS of $1.37 versus the $1.29 estimate and revenue of $10.25 billion, up 37.8% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $410.
Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Forrest Eugene Norrod sold 19,487 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the transaction, the executive vice president owned 324,527 shares of the company's stock, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Advanced Micro Devices Trading Up 4.0%
Shares of NASDAQ:AMD opened at $467.51 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $107.67 and a 12-month high of $481.41. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The company has a market cap of $762.32 billion, a PE ratio of 153.28, a price-to-earnings-growth ratio of 1.32 and a beta of 2.40. The stock has a 50 day moving average of $297.43 and a 200 day moving average of $246.86.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm's revenue for the quarter was up 37.8% compared to the same quarter last year. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.
More Advanced Micro Devices News
Here are the key news stories impacting Advanced Micro Devices this week:
Institutional Trading of Advanced Micro Devices
Several hedge funds have recently modified their holdings of AMD. Joseph Group Capital Management purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $25,000. Koesten Hirschmann & Crabtree INC. raised its holdings in Advanced Micro Devices by 61.0% during the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 61 shares during the period. Sarver Vrooman Wealth Advisors purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $27,000. Cornerstone Financial Management LLC purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $27,000. Finally, Basepoint Wealth LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on AMD. KeyCorp upped their price target on Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Evercore restated an "outperform" rating and issued a $579.00 price target on shares of Advanced Micro Devices in a research note on Tuesday. Benchmark lifted their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. BTIG Research raised Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $410.00.
Read Our Latest Stock Analysis on AMD
Advanced Micro Devices Company Profile
(
Get Free Report)
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.
Further Reading
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