Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded up 2.2% on Friday . The company traded as high as $122.74 and last traded at $121.06. 14,860,954 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 38,272,938 shares. The stock had previously closed at $118.44.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMD shares. Loop Capital began coverage on shares of Advanced Micro Devices in a research note on Tuesday. They issued a “buy” rating and a $175.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. UBS Group reduced their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup lowered their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $178.61.

Advanced Micro Devices Trading Up 2.3 %

The stock has a market capitalization of $196.58 billion, a price-to-earnings ratio of 109.13, a PEG ratio of 1.03 and a beta of 1.66. The firm has a 50-day moving average of $131.09 and a 200 day moving average of $145.76. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in Advanced Micro Devices during the fourth quarter worth approximately $26,000. Retirement Wealth Solutions LLC bought a new position in Advanced Micro Devices in the 4th quarter worth $32,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds 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.