Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.2% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report) rose 1.2% during mid-day trading on Monday . The company traded as high as $226.31 and last traded at $220.18. Approximately 30,647,265 shares changed hands during trading, a decline of 20% from the average daily volume of 38,148,543 shares. The stock had previously closed at $217.50.

Key Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMD shares. Benchmark reissued a “buy” rating and issued a $325.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 25th. Evercore reaffirmed an “outperform” rating and set a $358.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 24th. The Goldman Sachs Group increased their price target on Advanced Micro Devices from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. TD Cowen restated a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Finally, Truist Financial set a $283.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $290.19.

Read Our Latest Report on Advanced Micro Devices

Advanced Micro Devices Stock Performance

The firm’s 50 day simple moving average is $209.87 and its 200 day simple moving average is $215.26. The firm has a market capitalization of $358.97 billion, a price-to-earnings ratio of 83.09, a PEG ratio of 0.82 and a beta of 1.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.01 and a current ratio of 2.85.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its earnings results on Tuesday, February 3rd. The semiconductor manufacturer reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.21. The firm had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $9.65 billion. Advanced Micro Devices had a net margin of 12.52% and a return on equity of 8.84%. The firm’s revenue was up 34.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Ava Hahn sold 2,442 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $234.42, for a total value of $572,453.64. Following the sale, the senior vice president owned 16,359 shares in the company, valued at $3,834,876.78. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 7,500 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $204.87, for a total value of $1,536,525.00. Following the completion of the transaction, the executive vice president directly owned 129,598 shares of the company’s stock, valued at approximately $26,550,742.26. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 239,392 shares of company stock worth $50,016,383. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after buying an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after acquiring an additional 234 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Advanced Micro Devices by 125.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock worth $758,000 after acquiring an additional 2,970 shares during the period. United Bank boosted its position in shares of Advanced Micro Devices by 22.0% during the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock valued at $1,881,000 after acquiring an additional 2,392 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its position in shares of Advanced Micro Devices by 361.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock valued at $1,310,000 after acquiring an additional 7,228 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

(Get Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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