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 0.81% to 133.33 million shares with purchase of 1.07 million shares. This fresh investment now brings its stake to 8.25% valued currently at $16.15 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.51 million to 80.28 million shares. And Geode Capital Management LLC has lifted its position by 2.31% or 0.7 million shares – to 31.1 million shares.
With over 68.99 million Advanced Micro Devices Inc. (AMD) shares trading Friday and a closing price of $138.58 on the day, the dollar volume was approximately $9.56 billion. The shares have shown a positive half year performance of 22.45% and its price on 01/05/24 gained nearly 1.89%. Currently, there are 1.61B common shares owned by the public and among those 1.60B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 46 analysts who have offered their price forecasts for AMD have a consensus price objective of $142.35. The analysts have set the share’s price value over the next 12 months at a high of $205.00 and a low of $100.00. The average price target is 2.65% above its recent price level and a downside to the estimated low will see the stock lose -38.58% over that period. But an upside of 32.4% will see the stock hit the forecast high price target while median target price for the stock is $140.00.
Insiders at the company have transacted a total of 128 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 2,281,842 shares. Insider sales of the common stock occurred on 82 occasions, with total insider shares sold totaling 1,988,967 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 50.64 million shares of the company’s stock, all valued at over $6.14 billion. The company bought an additional 71397.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 0.18 million shares to see its total holdings expand to 39.01 million shares valued at over $4.73 billion and representing 2.42% of the shares outstanding. Invesco QQQ Trust sold 95342.0 shares to bring its total holdings to over 28.11 million shares at a value of $3.41 billion. Invesco QQQ Trust now owns shares totaling to 1.74% of the shares outstanding.
Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) opened at $136.78, up $0.77 from a prior closing price of $136.01. However, the script later moved the day high at 141.01, up 1.89%. The company’s stock has a 5-day price change of -6.84% and 34.66% over the past three months. AMD shares are trading -5.99% year to date (YTD), with the 12-month market performance up to 114.32% higher. It has a 12-month low price of $60.05 and touched a high of $151.05 over the same period. AMD has an average intraday trading volume of 57.13 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 0.75%, 12.46%, and 26.00% respectively.
Institutional ownership of Advanced Micro Devices Inc. (NASDAQ: AMD) shares accounts for 69.34% of the company’s 1.61B shares outstanding. Mutual fund holders own 40.66%, while other institutional holders and individual stakeholders account for 5.66% and 29.45% respectively.
It has a market capitalization of $223.88B and a beta (3y monthly) value of 1.64. The stock’s trailing 12-month PE ratio is 1092.90, while the earnings-per-share (ttm) stands at $0.13. The company has a PEG of 85.02 and a Quick Ratio of 1.61 with the debt-to-equity ratio at 0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.31% over the week and 3.51% over the month.
Analysts forecast that Advanced Micro Devices Inc. (AMD) will achieve an EPS of $Advanced Micro Devices, Inc. for the current quarter, $138.58 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $AMC Entertainment Holdings, Inc while analysts give the company a high EPS estimate of $AMD/BRX. Comparatively, EPS for the current quarter was $Archer-Daniels-Midland Company a year ago. Earnings per share for the fiscal year are expected to decrease by -24.10%, and 43.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 46 brokerage firm advisors rate Advanced Micro Devices Inc. (AMD) as a “Strong Buy” at a consensus score of 1.67. Specifically, 28 Wall Street analysts polled rate the stock as a buy, while 13 of the 46 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. BofA Securities stated their Buy rating for the stock in a research note on December 15, 2023, with the firm’s price target at $165.
