Advanced Micro Devices (NASDAQ:AMD) Trading 0.3% Higher – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price rose 0.3% during mid-day trading on Friday . The stock traded as high as $150.71 and last traded at $150.34. Approximately 8,621,545 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 56,001,145 shares. The stock had previously closed at $149.82.

Wall Street Analyst Weigh In

AMD has been the subject of several research reports. Barclays decreased their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group cut their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

The firm has a market capitalization of $239.84 billion, a P/E ratio of 135.44, a P/E/G ratio of 1.94 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock’s fifty day simple moving average is $154.36 and its 200 day simple moving average is $155.56.

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. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other news, 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 sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of AMD. International Assets Investment Management LLC boosted its position in Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Vanguard Group Inc. boosted its holdings in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices during the second quarter valued at $296,178,000. Hedge funds and other institutional investors 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.