Paul Darren Grasby Sells 10,000 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock

Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Paul Darren Grasby sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the sale, the executive vice president owned 125,505 shares of the company’s stock, valued at $21,738,721.05. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Advanced Micro Devices Stock Up 5.4%

NASDAQ:AMD opened at $184.42 on Thursday. The company has a market cap of $299.28 billion, a PE ratio of 105.99, a P/E/G ratio of 2.07 and a beta of 1.94. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $186.65. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $148.18 and its two-hundred day moving average is $119.36.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of AMD. Brighton Jones LLC lifted its stake in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after acquiring an additional 29,438 shares during the period. Revolve Wealth Partners LLC lifted its stake in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after acquiring an additional 234 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock valued at $31,958,000 after acquiring an additional 29,825 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Advisors Capital Management LLC now owns 50,596 shares of the semiconductor manufacturer’s stock valued at $6,112,000 after purchasing an additional 488 shares during the period. Finally, Synovus Financial Corp lifted its stake in shares of Advanced Micro Devices by 24.7% in the 4th quarter. Synovus Financial Corp now owns 42,099 shares of the semiconductor manufacturer’s stock valued at $5,085,000 after purchasing an additional 8,330 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMD. Hsbc Global Res upgraded shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 10th. Bank of America lifted their price objective on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Raymond James Financial lifted their price objective on shares of Advanced Micro Devices from $120.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Roth Capital set a $150.00 price objective on shares of Advanced Micro Devices and gave the company a “buy” rating in a report on Friday, June 13th. Finally, Sanford C. Bernstein lifted their price objective on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a “market perform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.21.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.