Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.7% (2024)

Posted by Defense World Staff on Aug 11th, 2024

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report)’s stock price traded down 2.7% on Friday . The stock traded as low as $132.44 and last traded at $132.70. 14,818,586 shares changed hands during trading, a decline of 77% from the average session volume of 63,756,270 shares. The stock had previously closed at $136.32.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. UBS Group reduced their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Check Out Our Latest Report on AMD

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $217.02 billion, a price-to-earnings ratio of 197.46, a PEG ratio of 1.79 and a beta of 1.69. The stock’s 50 day moving average price is $156.96 and its two-hundred day moving average price is $166.63. The company has a current ratio of 2.82, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.58 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were 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 directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Tradewinds Capital Management LLC lifted its holdings in Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares during the period. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the 2nd quarter worth about $27,000. Northwest Bank & Trust Co purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $28,000. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 139 shares during the period. 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 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.

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