Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.8% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 1.8% on Tuesday . The company traded as high as $112.26 and last traded at $112.49. Approximately 10,320,530 shares were traded during trading, a decline of 75% from the average daily volume of 41,981,516 shares. The stock had previously closed at $110.48.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Argus raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Thursday, February 6th. Piper Sandler dropped their price objective on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Loop Capital began coverage on Advanced Micro Devices in a research note on Tuesday, January 14th. They set a “buy” rating and a $175.00 target price on the stock. Barclays dropped their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on shares of Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $158.70.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $180.55 billion, a price-to-earnings ratio of 112.47, a P/E/G ratio of 1.04 and a beta of 1.65. The business has a 50-day simple moving average of $122.79 and a two-hundred day simple moving average of $139.51. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the period. State Street Corp increased its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. 71.34% of the stock is owned by 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.