Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.7%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded up 2.7% during mid-day trading on Friday . The stock traded as high as $169.72 and last traded at $166.95. 32,144,120 shares changed hands during trading, a decline of 53% from the average session volume of 68,538,266 shares. The stock had previously closed at $162.62.

Analysts Set New Price Targets

A number of brokerages have commented on AMD. Cantor Fitzgerald dropped their target price on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI lowered their target price on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company raised their price target on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Bank of America upped their price objective on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Wedbush reiterated an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $185.26.

Advanced Micro Devices Stock Performance

The firm has a 50 day simple moving average of $168.13 and a 200-day simple moving average of $155.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92. The company has a market cap of $263.10 billion, a price-to-earnings ratio of 245.52, a PEG ratio of 2.47 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,650 shares of company stock worth $31,761,199. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Wealth Management Group LLC lifted its stake in Advanced Micro Devices by 13.4% in the 1st quarter. National Wealth Management Group LLC now owns 2,040 shares of the semiconductor manufacturer’s stock valued at $368,000 after buying an additional 241 shares in the last quarter. Montchanin Asset Management LLC purchased a new stake in Advanced Micro Devices in the 1st quarter valued at approximately $1,716,000. New Covenant Trust Company N.A. purchased a new stake in Advanced Micro Devices in the 1st quarter valued at approximately $197,000. Plato Investment Management Ltd purchased a new stake in Advanced Micro Devices in the 1st quarter valued at approximately $4,804,000. Finally, Western Pacific Wealth Management LP lifted its stake in Advanced Micro Devices by 93.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,713 shares of the semiconductor manufacturer’s stock valued at $309,000 after buying an additional 827 shares in the last quarter. Institutional investors and hedge funds 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.