Advanced Micro Devices (NASDAQ:AMD) Shares Up 1.8% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 1.8% during mid-day trading on Friday . The company traded as high as $121.12 and last traded at $121.00. Approximately 14,788,267 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 53,570,141 shares. The stock had previously closed at $118.88.

Analysts Set New Price Targets

AMD has been the topic of a number of research analyst reports. Citigroup dropped their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. TD Cowen dropped their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Barclays dropped their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. UBS Group dropped their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Price Performance

The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $193.45 billion, a price-to-earnings ratio of 107.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company’s 50-day moving average is $142.00 and its 200-day moving average is $150.54.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related 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 value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’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 transaction of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Clear Creek Financial Management LLC raised its position in shares of Advanced Micro Devices by 9.3% during the second quarter. Clear Creek Financial Management LLC now owns 4,686 shares of the semiconductor manufacturer’s stock worth $760,000 after acquiring an additional 397 shares during the last quarter. Patten Group Inc. acquired a new stake in Advanced Micro Devices during the 2nd quarter valued at approximately $206,000. Bristlecone Advisors LLC lifted its position in shares of Advanced Micro Devices by 5.3% in the 2nd quarter. Bristlecone Advisors LLC now owns 3,628 shares of the semiconductor manufacturer’s stock worth $589,000 after purchasing an additional 181 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Advanced Micro Devices by 3.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 9,345 shares of the semiconductor manufacturer’s stock valued at $1,516,000 after purchasing an additional 338 shares during the last quarter. Finally, Rational Advisors LLC boosted its stake in shares of Advanced Micro Devices by 214.2% in the 2nd quarter. Rational Advisors LLC now owns 1,483 shares of the semiconductor manufacturer’s stock valued at $241,000 after purchasing an additional 1,011 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

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.