Advanced Micro Devices (NASDAQ:AMD) EVP Forrest Eugene Norrod Sells 19,487 Shares

Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Forrest Eugene Norrod sold 19,487 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Advanced Micro Devices Trading Up 4.0%

AMD stock traded up $17.92 during trading on Friday, hitting $467.51. 34,644,236 shares of the company traded hands, compared to its average volume of 39,170,523. The firm has a market capitalization of $762.32 billion, a PE ratio of 153.28, a P/E/G ratio of 1.33 and a beta of 2.40. Advanced Micro Devices, Inc. has a 1 year low of $107.67 and a 1 year high of $481.41. The company has a 50-day moving average of $292.17 and a 200-day moving average of $245.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. Analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter valued at approximately $4,929,312,000. Jennison Associates LLC increased its position in Advanced Micro Devices by 181.6% during the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock valued at $2,336,552,000 after buying an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Advanced Micro Devices during the 4th quarter valued at approximately $1,000,783,000. Wellington Management Group LLP increased its position in Advanced Micro Devices by 335.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock valued at $784,330,000 after buying an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Advanced Micro Devices by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock valued at $1,016,796,000 after buying an additional 3,669,054 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Roundup

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
• Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
• Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
• Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
• Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMD. Northland Securities reiterated a “market perform” rating and issued a $260.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 27th. UBS Group set a $310.00 price objective on Advanced Micro Devices in a report on Wednesday, February 4th. The Goldman Sachs Group upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $240.00 to $450.00 in a report on Wednesday, May 6th. BTIG Research upgraded Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $410.00.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.