Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.1% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.1% on Wednesday . The company traded as high as $117.68 and last traded at $116.57. 13,194,733 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 37,813,770 shares. The stock had previously closed at $114.17.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMD shares. TD Cowen dropped their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Susquehanna reduced their price target on Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating for the company in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group cut their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Hsbc Global Res lowered Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.86.

Advanced Micro Devices Stock Up 3.3 %

The business’s 50 day moving average is $127.14 and its 200-day moving average is $142.27. The stock has a market cap of $191.33 billion, a price-to-earnings ratio of 105.64, a PEG ratio of 1.09 and a beta of 1.66. 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 announced its 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. 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC raised its stake in shares of 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 worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $26,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $32,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $39,000. 71.34% of the stock is 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.