Advanced Micro Devices (NASDAQ:AMD) Trading Up 6.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded up 6.2% during trading on Monday . The company traded as high as $112.74 and last traded at $113.02. 16,405,438 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 43,363,175 shares. The stock had previously closed at $106.44.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMD. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Melius cut Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Truist Financial set a $130.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, KeyCorp cut their price objective on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.14.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm’s fifty day moving average price is $110.18 and its 200 day moving average price is $131.46. The firm has a market cap of $186.05 billion, a P/E ratio of 115.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Shum Financial Group Inc. purchased a new stake in Advanced Micro Devices in the 3rd quarter worth approximately $858,000. State Street Corp grew its position in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the period. Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Advanced Micro Devices during the fourth quarter worth approximately $65,897,000. Finally, Enzi Wealth purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $569,000. 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.