Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.5% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) was up 2.5% during trading on Monday . The stock traded as high as $122.74 and last traded at $121.46. Approximately 35,556,654 shares were traded during trading, an increase of 2% from the average daily volume of 34,940,360 shares. The stock had previously closed at $118.44.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMD shares. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $155.00 in a report on Monday, December 9th. Loop Capital initiated coverage on Advanced Micro Devices in a research note on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock’s fifty day moving average is $129.42 and its 200 day moving average is $144.76. The stock has a market cap of $198.44 billion, a P/E ratio of 110.16, a P/E/G ratio of 1.07 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, equities research analysts predict 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 other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of AMD. Creative Capital Management Investments LLC increased its holdings in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $26,000. Abich Financial Wealth Management LLC increased its position in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Advanced Micro Devices in the 3rd quarter worth $41,000. 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.