Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded up 2.1% during mid-day trading on Wednesday . The company traded as high as $119.88 and last traded at $118.52. 14,196,512 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 39,320,805 shares. The stock had previously closed at $116.09.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research reports. Loop Capital assumed coverage on Advanced Micro Devices in a research report on Tuesday. They set a “buy” rating and a $175.00 target price for the company. Morgan Stanley dropped their price objective 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, December 20th. Wells Fargo & Company decreased their target price on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday. Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Finally, Citigroup lowered their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.61.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The firm has a market capitalization of $197.11 billion, a PE ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66. The stock has a fifty day moving average price of $130.47 and a 200-day moving average price of $145.58.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates 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 firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred 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 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. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently bought and sold shares of the business. True North Advisors LLC grew its position in shares of Advanced Micro Devices by 46.0% in the fourth quarter. True North Advisors LLC now owns 7,863 shares of the semiconductor manufacturer’s stock valued at $950,000 after purchasing an additional 2,476 shares in the last quarter. Traynor Capital Management Inc. increased its stake in shares of Advanced Micro Devices by 15.8% in the 4th quarter. Traynor Capital Management Inc. now owns 65,132 shares of the semiconductor manufacturer’s stock worth $7,867,000 after acquiring an additional 8,894 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Advanced Micro Devices by 8.9% during the 4th quarter. Wesbanco Bank Inc. now owns 169,404 shares of the semiconductor manufacturer’s stock worth $20,462,000 after acquiring an additional 13,846 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Advanced Micro Devices by 10.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 254,608 shares of the semiconductor manufacturer’s stock valued at $30,754,000 after acquiring an additional 23,848 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of Advanced Micro Devices by 8.6% in the fourth quarter. Westside Investment Management Inc. now owns 5,874 shares of the semiconductor manufacturer’s stock valued at $710,000 after purchasing an additional 467 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Advanced Micro Devices

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.