Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.4% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.4% during trading on Tuesday . The stock traded as high as $117.79 and last traded at $116.97. 13,245,453 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 37,475,715 shares. The stock had previously closed at $114.27.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMD shares. Piper Sandler reduced their price objective on shares of Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price objective on Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Tuesday. Hsbc Global Res lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. Finally, Melius lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $160.00 to $129.00 in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.30.

Advanced Micro Devices Stock Down 1.7 %

The company has a market capitalization of $178.77 billion, a P/E ratio of 99.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $124.53 and its 200 day moving average is $140.39.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. Creative Capital Management Investments LLC grew its holdings 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 valued at $25,000 after buying an additional 86 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $25,000. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $29,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices during the third quarter valued at $41,000. Institutional investors 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.