Key Points
- AMD EVP Forrest Norrod sold 17,261 shares for approximately $8.7 million at an average price of $503.05 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 4.54%.
- AMD reported quarterly EPS of $1.66 and revenue of $11.54 billion, beating analyst expectations while revenue increased 50.1% year over year.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $565.12 price target, although AMD’s elevated valuation increases the importance of continued AI and data-center growth.
Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Forrest Norrod sold 17,261 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $503.05, for a total transaction of $8,683,146.05. Following the completion of the sale, the executive vice president directly owned 363,317 shares in the company, valued at approximately $182,766,616.85. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Forrest Eugene Norrod also recently made the following trade(s):
- On Monday, August 24th, Forrest Norrod sold 17,261 shares of Advanced Micro Devices stock. The stock was sold at an average price of $459.95, for a total transaction of $7,939,196.95.
Advanced Micro Devices Stock Up 6.4%
Advanced Micro Devices stock opened at $545.09 on Friday. Advanced Micro Devices, Inc. has a 1-year low of $149.85 and a 1-year high of $584.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The stock has a market cap of $889.84 billion, a PE ratio of 140.13, a P/E/G ratio of 5.31 and a beta of 2.48. The stock's fifty day moving average is $494.21 and its two-hundred day moving average is $413.93.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.31 billion. During the same period in the prior year, the firm posted $0.48 EPS. The business's quarterly revenue was up 50.1% compared to the same quarter last year. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.43 EPS for the current fiscal year.
Analyst Ratings Changes
AMD has been the topic of several recent analyst reports. KeyCorp set a $650.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Bank of America boosted their price objective on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. UBS Group reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. William Blair reiterated a "market perform" rating on shares of Advanced Micro Devices in a research note on Friday, July 24th. Finally, DA Davidson boosted their price target on shares of Advanced Micro Devices from $425.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $565.12.
View Our Latest Analysis on AMD
Trending Headlines about Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Reports that AMD and other chipmakers may raise GPU and CPU prices by roughly 10% have fueled expectations for stronger pricing power and expanded margins. AMD Stock Soars 5% on Reports of GPU and CPU Price Increases
- Positive Sentiment: AMD is participating in a broad semiconductor rebound, with investors again emphasizing resilient AI-infrastructure spending and demand for data-center CPUs and GPUs. The move has also lifted technology-focused ETFs, including QQQ, where AMD is a significant holding. AMD Jumps as Semiconductor Rebound Continues
- Positive Sentiment: AMD is expanding support for SiFive’s RISC-V data-center servers through its open-source ROCm AI software. The effort could broaden ROCm’s hardware ecosystem and support more open alternatives for AI computing. AMD Expands ROCm Support to RISC-V Datacenter Servers
- Positive Sentiment: Micron said AMD is validating its new high-density 512GB DDR5 server memory module, highlighting AMD’s involvement in next-generation, memory-intensive server platforms. Micron’s New 512GB Memory Module Deepens Its AI Infrastructure Advantage
- Neutral Sentiment: Analyst commentary remains broadly constructive, with cited AMD price targets generally above recent trading levels. However, the stock’s valuation is demanding, making continued execution and AI product ramps important.
- Negative Sentiment: Executive Vice President Forrest Norrod sold 17,261 shares for approximately $8.7 million under a pre-arranged Rule 10b5-1 plan. The sale reduces his ownership by 4.54%, while broader reports show extensive AMD insider selling and no reported insider purchases during the past six months. SEC Form 4 Filing
Hedge Funds Weigh In On Advanced Micro Devices
A number of hedge funds have recently modified their holdings of AMD. BlackRock Inc. increased its position in Advanced Micro Devices by 3.1% in the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer's stock valued at $87,311,650,000 after acquiring an additional 4,535,126 shares during the period. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock worth $8,015,897,000 after acquiring an additional 287,525 shares during the period. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $4,929,312,000. Invesco Ltd. grew its stake in shares of Advanced Micro Devices by 15.9% in the 4th quarter. Invesco Ltd. now owns 15,473,280 shares of the semiconductor manufacturer's stock valued at $3,313,758,000 after purchasing an additional 2,124,867 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Advanced Micro Devices in the second quarter valued at approximately $7,022,226,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.
Advanced Micro Devices Company Profile
(
Get Free Report)
Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.
AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.
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