Advanced Micro Devices (NASDAQ:AMD) Trading 0.1% Higher – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 0.1% on Wednesday . The stock traded as high as $143.40 and last traded at $142.19. 7,793,226 shares traded hands during trading, a decline of 86% from the average session volume of 54,093,602 shares. The stock had previously closed at $141.98.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMD. Citigroup cut their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Benchmark restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Evercore ISI raised their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Bank of America restated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Up 1.1 %

The firm has a market cap of $232.84 billion, a price-to-earnings ratio of 128.10, a P/E/G ratio of 1.96 and a beta of 1.65. The firm’s 50 day moving average price is $151.54 and its two-hundred day moving average price is $153.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently made changes to their positions in AMD. Inspire Trust Co. N.A. increased its stake in Advanced Micro Devices by 68.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 33,000 shares of the semiconductor manufacturer’s stock worth $5,415,000 after buying an additional 13,441 shares during the period. Synovus Financial Corp increased its position in shares of Advanced Micro Devices by 26.2% in the 3rd quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer’s stock worth $5,541,000 after purchasing an additional 7,006 shares during the last quarter. Destination Wealth Management increased its position in shares of Advanced Micro Devices by 32.4% in the 3rd quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer’s stock worth $1,916,000 after purchasing an additional 2,855 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Advanced Micro Devices by 189.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,095 shares of the semiconductor manufacturer’s stock worth $2,641,000 after purchasing an additional 10,539 shares during the last quarter. Finally, Sfmg LLC increased its position in shares of Advanced Micro Devices by 109.8% in the 3rd quarter. Sfmg LLC now owns 52,789 shares of the semiconductor manufacturer’s stock worth $8,662,000 after purchasing an additional 27,633 shares during the last quarter. Institutional investors and hedge funds 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.