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Analyzing Advanced Micro Devices Inc. (NASDAQ: AMD)’s Stock Performance and Future Prospects

In the latest trading session, 12.51 million Advanced Micro Devices Inc. (NASDAQ:AMD) shares changed hands as the company’s beta touched 1.81. With the company’s most recent per share price at $101.28 changed hands at -$0.21 or -0.21% at last look, the market valuation stands at $171.92B. AMD’s current price is a discount, trading about -31.15% off its 52-week high of $132.83. The share price had its 52-week low at $54.57, which suggests the last value was 46.12% up since then. When we look at Advanced Micro Devices Inc.’s average trading volume, we note the 10-day average is 52.06 million shares, with the 3-month average coming to 62.09 million.

Analysts gave the Advanced Micro Devices Inc. (AMD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 44 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 12 recommended AMD as a Hold, 27 felt it is a Buy and 0 rated the stock as Underweight. Advanced Micro Devices Inc.’s EPS for the current quarter is expected to be $0.63.

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Advanced Micro Devices Inc. (NASDAQ:AMD) trade information

Instantly AMD was in red as seen in intraday trades today. With action -3.84%, the performance over the past five days has been red. The drop to weekly highs of 109.15 on Friday, 09/15/23 subtracted -0.21% to the stock’s daily price. The company’s shares are showing year-to-date upside of 56.37%, with the 5-day performance at -3.84% in the red. However, in the 30-day time frame, Advanced Micro Devices Inc. (NASDAQ:AMD) is -3.03% down. Looking at the short shares, we see there were 28.18 million shares sold at short interest cover period of 0.42 days.

The consensus price target for the stock as assigned by Wall Street analysts is $143.00, meaning bulls need an upside of 29.17% from its recent market value. According to analyst projections, AMD’s forecast low is $95.00 with $200.00 as the target high. To hit the forecast high, the stock’s price needs a -97.47% plunge from its current level, while the stock would need to tank 6.2% for it to hit the projected low.

Advanced Micro Devices Inc. (AMD) estimates and forecasts

Data shows that the Advanced Micro Devices Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 3.52% over the past 6 months, a -21.71% in annual growth rate that is considerably lower than the industry average of -13.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Advanced Micro Devices Inc. will fall -6.00%, while the growth in revenue is estimated to hit 20.30% for the next quarter. Year-over-year growth is forecast to reach -9.40% down from the last financial year.

Consensus estimates given by 29 financial analysts project the company’s revenue in the current quarter to hit an average of $5.33 billion. 29 analysts are of the opinion that Advanced Micro Devices Inc.’s revenue for the quarter ending Dec 2023 will be $5.97 billion. The company’s revenue for the corresponding quarters a year ago was $5.62 billion and $5.6 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -5.10%. The estimates for the next quarter sales put growth at 6.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.90%. The 2023 estimates are for Advanced Micro Devices Inc. earnings to decrease by -67.30%, but the outlook for the next 5-year period is at 8.96% per year.

AMD Dividends

Advanced Micro Devices Inc. is expected to release its next quarterly earnings report between October 30 and November 03.

Advanced Micro Devices Inc. (NASDAQ:AMD)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.48% of Advanced Micro Devices Inc. shares while 74.47% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.82%. There are 74.47% institutions holding the Advanced Micro Devices Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.60% of the shares, roughly 138.9 million AMD shares worth $14.13 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.46% or 120.58 million shares worth $12.26 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 50.22 million shares estimated at $5.11 billion under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.37% of the shares, roughly 38.34 million shares worth around $3.9 billion.

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