Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.4% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 2.4% during trading on Monday . The company traded as high as $130.16 and last traded at $128.44. Approximately 18,755,343 shares changed hands during trading, a decline of 35% from the average daily volume of 28,983,961 shares. The stock had previously closed at $125.37.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMD. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. UBS Group dropped their price objective on 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. Finally, Evercore ISI increased their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Trading Up 2.6 %

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 has a market cap of $208.84 billion, a P/E ratio of 115.94, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a 50-day simple moving average of $135.46 and a 200-day simple moving average of $147.87.

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. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. State Street Corp increased its stake in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 1.3% in 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. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after acquiring an additional 188,580 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

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.