Advanced Micro Devices (NASDAQ:AMD) Trading 1.1% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded up 1.1% during mid-day trading on Thursday . The stock traded as high as $159.59 and last traded at $159.33. 11,067,646 shares traded hands during trading, a decline of 83% from the average session volume of 65,038,297 shares. The stock had previously closed at $157.54.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $175.00 price target (down previously from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. KeyCorp lowered their price target on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Cantor Fitzgerald lowered their target price on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Citigroup dropped their target price on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho lowered their price target on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.83.

Advanced Micro Devices Trading Up 0.4 %

The firm has a market cap of $255.76 billion, a price-to-earnings ratio of 231.96, a P/E/G ratio of 1.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92. The business has a 50-day moving average of $158.72 and a 200-day moving average of $164.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in AMD. Norges Bank acquired a new position in Advanced Micro Devices during the fourth quarter worth about $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Advanced Micro Devices by 813.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after buying an additional 4,138,612 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Advanced Micro Devices by 15,896.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after buying an additional 3,714,069 shares during the last quarter. Capital World Investors increased its holdings in shares of Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after buying an additional 2,982,704 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after acquiring an additional 2,553,392 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

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.