Advanced Micro Devices (NASDAQ:AMD) Hits New 1-Year Low at $79.43

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $79.43 and last traded at $80.29, with a volume of 988193 shares. The stock had previously closed at $82.05.

A number of research firms recently issued reports on AMD. Mizuho lowered their target price on Advanced Micro Devices from $160.00 to $145.00 in a report on Wednesday, May 4th. The Goldman Sachs Group restated a “buy” rating and set a $133.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 10th. downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. KeyCorp cut their price objective on Advanced Micro Devices from $165.00 to $150.00 in a report on Wednesday, May 4th. Finally, Truist Financial cut their price objective on Advanced Micro Devices from $144.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Buy” and an average target price of $141.15.

The stock has a market cap of $132.19 billion, a P/E ratio of 30.32, a PEG ratio of 0.62 and a beta of 1.86. The company has a quick ratio of 1.96, a current ratio of 2.40 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $94.13 and a 200-day simple moving average of $113.71.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last announced its earnings results on Tuesday, May 3rd. The semiconductor manufacturer reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.19. The firm had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Advanced Micro Devices had a return on equity of 20.66% and a net margin of 17.98%. The company’s revenue was up 70.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, analysts predict that Advanced Micro Devices, Inc. will post 4.01 earnings per share for the current fiscal year.

In other news, EVP Mark D. Papermaster sold 20,180 shares of the stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $125.00, for a total value of $2,522,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Devinder Kumar sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $102.44, for a total value of $2,048,800.00. Following the completion of the sale, the chief financial officer now directly owns 504,370 shares of the company’s stock, valued at $51,667,662.80. The disclosure for this sale can be found here. Insiders have sold 79,146 shares of company stock valued at $8,560,700 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMD. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 36.9% in the first quarter. Vanguard Group Inc. now owns 133,525,143 shares of the semiconductor manufacturer’s stock valued at $14,599,640,000 after purchasing an additional 36,016,818 shares in the last quarter. BlackRock Inc. raised its stake in shares of Advanced Micro Devices by 34.6% in the first quarter. BlackRock Inc. now owns 119,569,366 shares of the semiconductor manufacturer’s stock valued at $13,073,716,000 after purchasing an additional 30,732,205 shares in the last quarter. State Street Corp raised its stake in shares of Advanced Micro Devices by 37.5% in the first quarter. State Street Corp now owns 65,577,025 shares of the semiconductor manufacturer’s stock valued at $7,170,192,000 after purchasing an additional 17,896,122 shares in the last quarter. Norges Bank acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at $1,423,132,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Advanced Micro Devices in the first quarter valued at $777,111,000. Institutional investors and hedge funds own 69.61% of the company’s stock.

Advanced Micro Devices Company Profile (NASDAQ:AMD)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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