Advanced Micro Devices (NASDAQ:AMD) Trading Up 2% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 2% on Friday . The company traded as high as $123.77 and last traded at $122.99. Approximately 12,752,326 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 22,284,195 shares. The stock had previously closed at $120.63.

Analysts Set New Price Targets

A number of research firms have commented on AMD. Evercore ISI raised their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup decreased their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, TD Cowen cut their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Up 3.0 %

The stock has a 50-day moving average price of $136.07 and a 200-day moving average price of $148.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market capitalization of $201.55 billion, a P/E ratio of 111.89, a P/E/G ratio of 1.88 and a beta of 1.66.

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

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. 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. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Creative Capital Management Investments LLC lifted its position in Advanced Micro Devices by 124.6% in the 3rd 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 lifted 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 valued at $26,000 after purchasing an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the second quarter valued at approximately $27,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 111 shares in 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.