The Vanguard Group, 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 1.08% to 132.26 million shares with purchase of 1.41 million shares. This fresh investment now brings its stake to 8.19% valued currently at $13.98 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.88 million to 78.78 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.22% or 0.14 million shares – to 65.19 million shares.
With over 70.86 million Advanced Micro Devices Inc. (AMD) shares trading Friday and a closing price of $101.49 on the day, the dollar volume was approximately $7.19 billion. The shares have shown a positive half year performance of 5.06% and its price on 09/15/23 lost nearly -4.82%. Currently, there are 1.61B common shares owned by the public and among those 1.61B 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: 44 analysts who have offered their price forecasts for AMD have a consensus price objective of $143.00. The analysts have set the share’s price value over the next 12 months at a high of $200.00 and a low of $95.00. The average price target is 26.74% above its recent price level and a downside to the estimated low will see the stock lose -6.83% over that period. But an upside of 49.26% will see the stock hit the forecast high price target while median target price for the stock is $145.00.
Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 2,656,242 shares. Insider sales of the common stock occurred on 75 occasions, with total insider shares sold totaling 2,024,161 shares.
The top 3 mutual fund holders in Advanced Micro Devices Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 50.16 million shares of the company’s stock, all valued at over $5.3 billion. The company bought an additional 14839.0 shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard 500 Index Fund bought 0.22 million shares to see its total holdings expand to 38.78 million shares valued at over $4.1 billion and representing 2.40% of the shares outstanding. Invesco QQQ Trust bought 4990.0 shares to bring its total holdings to over 27.13 million shares at a value of $2.87 billion. Invesco QQQ Trust now owns shares totaling to 1.68% of the shares outstanding.
Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) opened at $106.07, down -$0.56 from a prior closing price of $106.63. However, the script later moved the day high at 106.75, down -4.82%. The company’s stock has a 5-day price change of -4.34% and -18.31% over the past three months. AMD shares are trading 56.69% year to date (YTD), with the 12-month market performance up to 31.04% higher. It has a 12-month low price of $54.57 and touched a high of $132.83 over the same period. AMD has an average intraday trading volume of 62.32 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 -4.49%, -7.97%, and 7.45% respectively.
Institutional ownership of Advanced Micro Devices Inc. (NASDAQ: AMD) shares accounts for 70.70% of the company’s 1.61B shares outstanding. Mutual fund holders own 41.64%, while other institutional holders and individual stakeholders account for 5.66% and 30.48% respectively.
It has a market capitalization of $172.28B and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.95% over the week and 4.12% over the month.
Analysts forecast that Advanced Micro Devices Inc. (AMD) will achieve an EPS of $0.68 for the current quarter, $0.88 for the next quarter and $4.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0.57 while analysts give the company a high EPS estimate of $0.71. Comparatively, EPS for the current quarter was $0.67 a year ago. Earnings per share for the fiscal year are expected to decrease by -67.30%, and 50.60% over the next financial year. EPS should shrink at an annualized rate of 8.96% over the next five years, compared to 21.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 44 brokerage firm advisors rate Advanced Micro Devices Inc. (AMD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 27 Wall Street analysts polled rate the stock as a buy, while 12 of the 44 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMD, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on August 02, 2023, with the firm’s price target at $120-$136.