Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.9% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded up 0.9% during trading on Tuesday . The company traded as high as $123.46 and last traded at $122.60. 9,774,739 shares traded hands during trading, a decline of 74% from the average session volume of 37,696,695 shares. The stock had previously closed at $121.46.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. UBS Group lowered their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Trading Down 0.6 %

The business’s 50-day moving average price is $128.68 and its 200-day moving average price is $144.27. The firm has a market capitalization of $199.67 billion, a PE ratio of 110.85, a price-to-earnings-growth ratio of 1.08 and a beta of 1.66. 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 posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction 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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC lifted its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the period. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the 4th quarter worth about $26,000. Retirement Wealth Solutions LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $32,000. Finally, Abich Financial Wealth Management LLC raised its stake in Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.