Advanced Micro Devices (NASDAQ:AMD) Trading Up 2% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 2% during mid-day trading on Wednesday . The stock traded as high as $124.41 and last traded at $124.76. Approximately 10,206,617 shares were traded during trading, a decline of 73% from the average daily volume of 37,293,828 shares. The stock had previously closed at $122.28.

Wall Street Analyst Weigh In

AMD has been the subject of several analyst reports. Mizuho dropped their target price on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $175.00 to $129.00 in a research report on Friday, January 10th. Barclays dropped their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group cut their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.71.

Advanced Micro Devices Stock Performance

The company has a fifty day moving average of $128.36 and a two-hundred day moving average of $144.12. The stock has a market capitalization of $199.35 billion, a P/E ratio of 110.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 in the last quarter. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Advanced Micro Devices in the fourth quarter worth $146,000. Lazari Capital Management Inc. grew its position in Advanced Micro Devices by 22.0% in the 4th quarter. Lazari Capital Management Inc. now owns 20,536 shares of the semiconductor manufacturer’s stock valued at $2,481,000 after buying an additional 3,697 shares in the last quarter. Chicago Capital LLC grew its position in Advanced Micro Devices by 1.4% in the 4th quarter. Chicago Capital LLC now owns 71,051 shares of the semiconductor manufacturer’s stock valued at $8,582,000 after buying an additional 998 shares in the last quarter. Abner Herrman & Brock LLC increased its stake in Advanced Micro Devices by 1.3% during the 4th quarter. Abner Herrman & Brock LLC now owns 145,033 shares of the semiconductor manufacturer’s stock valued at $17,519,000 after buying an additional 1,837 shares during the period. Finally, Magnolia Capital Advisors LLC raised its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Magnolia Capital Advisors LLC now owns 4,267 shares of the semiconductor manufacturer’s stock worth $515,000 after buying an additional 120 shares in the last quarter. 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.