Advanced Micro Devices (NASDAQ:AMD) Shares Up 1% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was up 1% on Thursday . The company traded as high as $123.14 and last traded at $121.98. Approximately 11,569,661 shares changed hands during trading, a decline of 78% from the average daily volume of 53,218,793 shares. The stock had previously closed at $120.79.

Analyst Ratings Changes

A number of brokerages have issued reports on AMD. UBS Group cut their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $155.00 in a report on Monday, December 9th. Evercore ISI raised their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Finally, Barclays reduced their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Trading Up 3.9 %

The business has a 50-day moving average of $136.07 and a two-hundred day moving average of $148.19. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $203.45 billion, a price-to-earnings ratio of 112.95, a P/E/G ratio of 1.88 and a beta of 1.66.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 in the last 90 days. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently made changes to their positions in AMD. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC lifted 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 purchasing an additional 75 shares during the period. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the 4th quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth about $27,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring 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.