Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.6%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 2.6% during mid-day trading on Friday . The company traded as high as $156.40 and last traded at $155.65. 12,677,713 shares were traded during mid-day trading, a decline of 80% from the average session volume of 62,646,945 shares. The stock had previously closed at $151.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial lowered their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Benchmark lowered their target price on Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. UBS Group lowered their target price on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group initiated coverage on Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $175.00 target price (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Price Performance

The firm has a fifty day moving average price of $154.39 and a two-hundred day moving average price of $165.02. The stock has a market capitalization of $247.25 billion, a P/E ratio of 228.90, a PEG ratio of 1.79 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the firm earned $0.40 EPS. Advanced Micro Devices’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Advanced Micro Devices by 813.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after purchasing an additional 4,138,612 shares during the last quarter. Capital World Investors lifted its stake in shares of Advanced Micro Devices by 176.9% during the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after purchasing an additional 2,982,704 shares during the last quarter. Van ECK Associates Corp raised its holdings in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after buying an additional 2,553,392 shares in the last quarter. 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.