Advanced Micro Devices (NASDAQ:AMD) Shares Up 3.9%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 3.9% on Wednesday . The company traded as high as $143.04 and last traded at $142.32. 18,761,838 shares were traded during mid-day trading, a decline of 70% from the average session volume of 61,677,922 shares. The stock had previously closed at $136.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMD. TD Cowen reissued a “buy” rating and issued a $210.00 price target on shares of Advanced Micro Devices in a research report on Monday, August 19th. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Susquehanna reissued a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Wedbush reissued an “outperform” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Price Performance

The stock’s 50 day moving average price is $152.61 and its two-hundred day moving average price is $163.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The firm has a market capitalization of $229.44 billion, a price-to-earnings ratio of 209.29, a PEG ratio of 2.03 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now 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 Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in AMD. Norges Bank acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Advanced Micro Devices by 813.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after purchasing an additional 4,138,612 shares in the last quarter. Capital World Investors increased its holdings in shares of Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after buying an additional 2,982,704 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Advanced Micro Devices by 52.6% during 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 buying an additional 2,979,204 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Micro Devices by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $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.