Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) – Equities researchers at Wedbush lifted their FY2023 earnings per share estimates for shares of Advanced Micro Devices in a research report issued to clients and investors on Wednesday, November 1st. Wedbush analyst M. Bryson now anticipates that the semiconductor manufacturer will post earnings of $1.98 per share for the year, up from their prior estimate of $1.97. Wedbush has a “Outperform” rating and a $130.00 price objective on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.01 per share.
Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Advanced Micro Devices from $92.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Robert W. Baird dropped their price objective on Advanced Micro Devices from $170.00 to $125.00 in a research note on Thursday, October 5th. Morgan Stanley dropped their target price on Advanced Micro Devices from $138.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group dropped their target price on Advanced Micro Devices from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com began coverage on Advanced Micro Devices in a research report on Thursday, October 5th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.10.
Advanced Micro Devices Stock Performance
AMD stock opened at $112.25 on Friday. The firm has a market cap of $181.36 billion, a PE ratio of 935.49, a P/E/G ratio of 5.99 and a beta of 1.66. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $103.34 and a 200-day moving average of $106.86. Advanced Micro Devices has a 12-month low of $59.80 and a 12-month high of $132.83.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The semiconductor manufacturer reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.70 billion. Advanced Micro Devices had a return on equity of 5.61% and a net margin of 0.94%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS.
In other news, CEO Lisa T. Su sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $111.59, for a total transaction of $8,369,250.00. Following the transaction, the chief executive officer now directly owns 3,192,774 shares of the company’s stock, valued at $356,281,650.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Lisa T. Su sold 75,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $111.59, for a total transaction of $8,369,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,192,774 shares in the company, valued at $356,281,650.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 14,942 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the sale, the executive vice president now owns 103,663 shares of the company’s stock, valued at $11,010,047.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,942 shares of company stock valued at $17,861,240. 0.73% of the stock is currently owned by insiders.
Institutional Trading of Advanced Micro Devices
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Advanced Micro Devices by 411,469.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 471,880,586 shares of the semiconductor manufacturer’s stock valued at $53,751,918,000 after purchasing an additional 471,765,932 shares during the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $1,252,070,000. Jennison Associates LLC purchased a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $1,594,894,000. Wellington Management Group LLP lifted its holdings in shares of Advanced Micro Devices by 123.6% during the first quarter. Wellington Management Group LLP now owns 20,254,885 shares of the semiconductor manufacturer’s stock valued at $1,985,181,000 after purchasing an additional 11,195,952 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of Advanced Micro Devices by 7,396,755.9% during the first quarter. Baillie Gifford & Co. now owns 8,728,290 shares of the semiconductor manufacturer’s stock valued at $855,460,000 after purchasing an additional 8,728,172 shares during the last quarter. 68.43% of the stock is currently owned by hedge funds and other institutional investors.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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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