Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.3% (2024)

Posted by Defense World Staff on Jun 23rd, 2024

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) shares fell 0.3% during trading on Friday . The stock traded as low as $157.89 and last traded at $161.27. 23,559,333 shares traded hands during trading, a decline of 64% from the average session volume of 65,756,367 shares. The stock had previously closed at $161.78.

Analyst Ratings Changes

Several brokerages recently commented on AMD. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. Citigroup dropped their target price on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group began coverage on Advanced Micro Devices in a report on Monday, May 13th. They issued a “buy” rating and a $190.00 target price for the company. Evercore ISI dropped their target price on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Mizuho dropped their target price on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $190.83.

View Our Latest Analysis on Advanced Micro Devices

Advanced Micro Devices Trading Down 0.3 %

The company has a fifty day simple moving average of $158.71 and a two-hundred day simple moving average of $163.98. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The company has a market cap of $260.60 billion, a PE ratio of 237.11, a P/E/G ratio of 1.87 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the business earned $0.43 EPS. Advanced Micro Devices’s revenue was up 2.2% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMD. Norges Bank purchased a new position in Advanced Micro Devices during the 4th quarter worth approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Advanced Micro Devices by 813.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after acquiring an additional 4,138,612 shares during the period. International Assets Investment Management LLC lifted its position in Advanced Micro Devices by 15,896.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after acquiring an additional 3,714,069 shares during the period. Capital World Investors lifted its position in Advanced Micro Devices by 176.9% during the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after acquiring an additional 2,982,704 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after acquiring an additional 2,553,392 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

(Get Free Report)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

You might be interested in:

Alphabet Shares Up 1.6%

Signet Jewelers Stock Price Down 5%