Investors Buy Shares of Advanced Micro Devices (AMD) on Weakness
Traders bought shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) on weakness during trading on Thursday. $500.74 million flowed into the stock on the tick-up and $465.66 million flowed out of the stock on the tick-down, for a money net flow of $35.08 million into the stock. Of all stocks tracked, Advanced Micro Devices had the 23rd highest net in-flow for the day. Advanced Micro Devices traded down ($0.64) for the day and closed at $21.20
A number of research analysts have weighed in on the company. KeyCorp assumed coverage on Advanced Micro Devices in a research note on Tuesday, September 25th. They set a “sector weight” rating on the stock. Mizuho increased their price target on Advanced Micro Devices from $20.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. FBN Securities assumed coverage on Advanced Micro Devices in a research note on Thursday, September 13th. They set an “outperform” rating on the stock. Northland Securities lowered Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research note on Thursday, September 27th. Finally, Morgan Stanley reissued an “underweight” rating and set a $28.00 price target (up previously from $11.00) on shares of Advanced Micro Devices in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.65.
The firm has a market capitalization of $21.83 billion, a P/E ratio of 262.88, a price-to-earnings-growth ratio of 4.49 and a beta of 3.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.37.
In related news, CFO Devinder Kumar sold 258,622 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $19.51, for a total value of $5,045,715.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Harry A. Wolin sold 133,420 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $19.51, for a total value of $2,603,024.20. Following the completion of the sale, the senior vice president now owns 1,455,655 shares of the company’s stock, valued at $28,399,829.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,569,209 shares of company stock valued at $56,688,849. 1.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Swedbank purchased a new position in Advanced Micro Devices in the 3rd quarter valued at about $152,865,000. State of Wisconsin Investment Board boosted its position in Advanced Micro Devices by 7.4% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,061,554 shares of the semiconductor manufacturer’s stock valued at $15,913,000 after buying an additional 73,081 shares during the last quarter. OmniStar Financial Group Inc. purchased a new position in Advanced Micro Devices in the 2nd quarter valued at about $316,000. Barometer Capital Management Inc. purchased a new position in Advanced Micro Devices in the 3rd quarter valued at about $3,265,000. Finally, Renaissance Technologies LLC boosted its position in Advanced Micro Devices by 541.5% in the 2nd quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after buying an additional 6,269,500 shares during the last quarter. Hedge funds and other institutional investors own 66.62% of the company’s stock.
About Advanced Micro Devices (NASDAQ:AMD)
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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