Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.3%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 0.3% during mid-day trading on Tuesday . The stock traded as high as $153.60 and last traded at $152.51. Approximately 7,761,217 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 60,216,879 shares. The stock had previously closed at $152.08.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMD shares. Robert W. Baird lowered their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Bank of America dropped their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Truist Financial decreased their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. KeyCorp cut their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Trading Down 1.5 %

The stock has a market cap of $242.08 billion, a P/E ratio of 224.28, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The firm’s fifty day simple moving average is $149.03 and its 200-day simple moving average is $161.49.

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

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the stock. Precision Wealth Strategies LLC grew its holdings in shares of Advanced Micro Devices by 4.0% during the fourth quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock valued at $598,000 after buying an additional 155 shares during the last quarter. Concentrum Wealth Management increased its position in shares of Advanced Micro Devices by 6.6% during the fourth quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock valued at $5,625,000 after buying an additional 2,354 shares during the period. 9258 Wealth Management LLC increased its holdings in Advanced Micro Devices by 70.4% during the 4th quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock worth $1,787,000 after acquiring an additional 5,009 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Advanced Micro Devices by 0.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 282,557 shares of the semiconductor manufacturer’s stock worth $41,652,000 after buying an additional 919 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its position in shares of Advanced Micro Devices by 12.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 29,034 shares of the semiconductor manufacturer’s stock valued at $4,280,000 after acquiring an additional 3,325 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.