Advanced Micro Devices (NASDAQ:AMD) Trading 5.3% Higher – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded up 5.3% during mid-day trading on Monday . The company traded as high as $126.34 and last traded at $125.53. 20,156,927 shares were traded during trading, a decline of 62% from the average session volume of 53,581,648 shares. The stock had previously closed at $119.21.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMD. Barclays dropped their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday. TD Cowen decreased their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Evercore ISI raised their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Price Performance

The company has a market cap of $202.98 billion, a P/E ratio of 112.68, a P/E/G ratio of 1.88 and a beta of 1.65. The stock has a 50-day simple moving average of $142.00 and a 200 day simple moving average of $150.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates 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 business posted $0.53 earnings per share. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 in the last three months. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently modified their holdings of AMD. Creative Capital Management Investments LLC increased its holdings in shares of 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 worth $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its stake in Advanced Micro Devices by 90.4% in the third 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 in the last quarter. Morton Brown Family Wealth LLC increased its holdings in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the last quarter. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the second quarter worth $27,000. Finally, Ridgewood Investments LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at $35,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.