Traders Buy Shares of Advanced Micro Devices (AMD) on Weakness

Investors purchased shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) on weakness during trading on Thursday. $2,375.06 million flowed into the stock on the tick-up and $2,342.95 million flowed out of the stock on the tick-down, for a money net flow of $32.11 million into the stock. Of all equities tracked, Advanced Micro Devices had the 12th highest net in-flow for the day. Advanced Micro Devices traded down ($1.73) for the day and closed at $30.48

AMD has been the subject of several research analyst reports. Rosenblatt Securities increased their target price on Advanced Micro Devices from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub lowered Advanced Micro Devices from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, September 4th. Stifel Nicolaus reissued a “buy” rating on shares of Advanced Micro Devices in a report on Thursday, July 26th. Finally, Bank of America raised their price target on Advanced Micro Devices from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, June 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of “Hold” and an average target price of $19.02.

The company has a quick ratio of 1.26, a current ratio of 1.66 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $31.40 billion, a P/E ratio of 409.00, a price-to-earnings-growth ratio of 6.32 and a beta of 3.16.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $0.02 EPS. The company’s revenue was up 52.6% compared to the same quarter last year. equities analysts forecast that Advanced Micro Devices, Inc. will post 0.36 earnings per share for the current year.

In related news, insider Mark D. Papermaster sold 20,066 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $19.14, for a total value of $384,063.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James Robert Anderson sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $15.70, for a total value of $1,177,500.00. Following the completion of the transaction, the senior vice president now owns 310,396 shares in the company, valued at approximately $4,873,217.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,033,429 shares of company stock valued at $486,941,396. Corporate insiders own 1.80% of the company’s stock.

A number of large investors have recently made changes to their positions in AMD. Coldstream Capital Management Inc. boosted its position in Advanced Micro Devices by 22.1% during the first quarter. Coldstream Capital Management Inc. now owns 22,570 shares of the semiconductor manufacturer’s stock valued at $227,000 after buying an additional 4,085 shares during the period. First Allied Advisory Services Inc. raised its stake in Advanced Micro Devices by 17.3% in the second quarter. First Allied Advisory Services Inc. now owns 27,985 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 4,126 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Advanced Micro Devices during the second quarter valued at approximately $275,000. CIBC Asset Management Inc increased its position in shares of Advanced Micro Devices by 5.6% during the second quarter. CIBC Asset Management Inc now owns 82,559 shares of the semiconductor manufacturer’s stock valued at $1,238,000 after acquiring an additional 4,344 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in shares of Advanced Micro Devices by 59.3% during the second quarter. Thompson Davis & CO. Inc. now owns 11,750 shares of the semiconductor manufacturer’s stock valued at $176,000 after acquiring an additional 4,375 shares in the last quarter. Institutional investors own 65.99% 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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