Advanced Micro Devices (NASDAQ:AMD) Trading 0.6% Higher – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded up 0.6% during mid-day trading on Tuesday . The stock traded as high as $127.51 and last traded at $125.34. 15,449,595 shares changed hands during trading, a decline of 71% from the average session volume of 53,551,910 shares. The stock had previously closed at $124.60.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMD. Barclays cut their price target 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 cut 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 research note on Wednesday, October 30th. 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 research note on Wednesday, October 30th. TD Cowen cut their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $191.96.

Advanced Micro Devices Stock Up 1.4 %

The company has a market cap of $204.94 billion, a P/E ratio of 113.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $141.19 and a 200 day moving average of $150.13.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The shares were 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 owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank lifted its position in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after buying an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new position in Advanced Micro Devices during the third quarter valued at approximately $858,000. Geode Capital Management LLC grew its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after buying an additional 441,924 shares in the last quarter. Finally, State Street Corp increased its stake in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. 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.