Key Points
- AMD EVP Mark Papermaster sold 6,000 shares on June 15 at an average price of $536.33, totaling about $3.22 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Advanced Micro Devices reported strong quarterly results, with EPS of $1.37 beating estimates and revenue of $10.25 billion topping forecasts. Revenue grew 37.8% year over year, and analysts expect full-year EPS of 6.2.
- Wall Street sentiment remains generally positive, with a consensus rating of “Moderate Buy” and a target price of $430.68, even though some firms recently raised targets while others issued downgrades.
Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Mark Papermaster sold 6,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the sale, the executive vice president directly owned 1,233,687 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Advanced Micro Devices Stock Up 1.0%
NASDAQ:AMD opened at $512.48 on Thursday. The firm's 50-day moving average price is $404.65 and its 200-day moving average price is $281.16. The company has a market capitalization of $835.65 billion, a PE ratio of 168.03, a P/E/G ratio of 1.48 and a beta of 2.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. Advanced Micro Devices, Inc. has a 1-year low of $125.77 and a 1-year high of $558.37.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The company's revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Oppenheimer downgraded shares of Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Barclays downgraded shares of Advanced Micro Devices from an "overweight" rating to an "underweight" rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company upped their target price on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.68.
Get Our Latest Research Report on AMD
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AMD. Norges Bank bought a new position in shares of Advanced Micro Devices in the fourth quarter worth approximately $4,929,312,000. Jennison Associates LLC lifted its stake in shares of Advanced Micro Devices by 181.6% in the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after buying an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. bought a new position in shares of Advanced Micro Devices in the fourth quarter worth approximately $1,000,783,000. Wellington Management Group LLP lifted its stake in shares of Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after buying an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Advanced Micro Devices by 340.1% in the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock worth $1,016,796,000 after buying an additional 3,669,054 shares in the last quarter. Institutional investors own 71.34% of the company's stock.
Key Stories Impacting Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
About Advanced Micro Devices
(
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.
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