SSgA Funds Management, Inc. recently announced the acquisition of new stake in Advanced Micro Devices Inc. (NASDAQ:AMD). The institutional investor has increased its shareholding in the Technology company by 4.63% to 47.46 million shares with purchase of 2.1 million shares. This fresh investment now brings its stake to 4.04% valued currently at $3.67 billion. In addition, Northern Trust Investments, Inc.(.. raised its holdings by 0.62 million to 12.89 million shares.
With over 90.46 million Advanced Micro Devices Inc. (AMD) shares trading Monday and a closing price of $90.82 on the day, the dollar volume was approximately $8.22 billion. The shares have shown a positive weekly performance of 9.32% and its price on 08/31/20 gained nearly 6.16%. Currently, there are 1.17B common shares owned by the public and among those 1.17B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 37 analysts who have offered their price forecasts for AMD have a consensus price objective of $78.63. The analysts have set the share’s price value over the next 12 months at a high of $120.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Advanced Micro Devices Inc. stock is 2.40 for the next 12 months. The average price target is -19.26% below its last price level and a downside to the estimated low will see the stock lose -909.11% over that period. But an upside of 24.32% will see the stock hit the forecast high price target while mean target price for the stock is $78.50.
Insiders at the company have transacted a total of 139 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 3,078,996 shares. Insider sales of the common stock occurred on 87 occasions, with total insider shares sold totaling 3,158,775 shares.
The top 3 mutual fund holders in Advanced Micro Devices Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market Index owns 33.3 million shares of the company’s stock, all valued at over $2.58 billion. The company sold 83316.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Vanguard 500 Index Fund sold -0.15 million shares to see its total holdings shrink to 24.15 million shares valued at over $1.87 billion and representing 2.06% of the shares outstanding. American Funds Growth Fund of Ame bought 0.16 million shares to bring its total holdings to over 17.41 million shares at a value of $1.35 billion. American Funds Growth Fund of Ame now owns shares totaling to 1.48% of the shares outstanding.
Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) opened at $85.05, down -$0.5 from a prior closing price of $85.55. However, the script later closed the day at $90.82, up 6.16%. The company’s stock has a 5-day price change of 9.32% and 69.63% over the past three months. AMD shares are trading 98.04% year to date (YTD), with the 12-month market performance up to 188.78% higher. It has a 12-month low price of $27.43 and touched a high of $87.72 over the same period. Currently, 90.46 million shares have been traded, compared to an average intraday trading volume of 60.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.36%, 33.31%, and 70.17% respectively.
Institutional ownership of Advanced Micro Devices Inc. (NASDAQ: AMD) shares accounts for 73.30% of the company’s 1.17B shares outstanding. Mutual fund holders own 40.93%, while other institutional holders and individual stakeholders account for 7.64% and 27.32% respectively.
It has a market capitalization of $104.45B and a beta (3y monthly) value of 2.24. The stock’s trailing 12-month PE ratio is 180.56, while the earnings-per-share (ttm) stands at $0.50. The company has a PEG of 4.92 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.73% over the week and 4.29% over the month.
Analysts forecast that Advanced Micro Devices Inc. (AMD) will achieve an EPS of $0.35 for the current quarter, $0.39 for the next quarter and $1.65 for 2021. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -11.00%, and 49.95% over the next financial year. EPS should grow at an annualized rate of 36.72% over the next five years, compared to 20.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 37 brokerage firm advisors rate Advanced Micro Devices Inc. (AMD) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 19 of the 37 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the AMD, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on August 24, 2020, with the firm’s price target at. Cowen coverage for the Advanced Micro Devices Inc. (AMD) stock in a research note released on August 21, 2020 offered a Outperform rating with a price target of $100. Jefferies was of a view on August 04, 2020 that the stock is Buy, while Susquehanna gave the stock Positive rating on July 29, 2020, issuing a price target of $85. Exane BNP Paribas on their part issued Outperform rating on July 29, 2020.