Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.7% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 1.7% during trading on Monday . The company traded as high as $113.82 and last traded at $112.59. 13,199,109 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 41,774,951 shares. The stock had previously closed at $110.73.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen increased their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Barclays increased their price target on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Raymond James reiterated an “outperform” rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Dbs Bank cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Advanced Micro Devices in a research note on Wednesday, May 14th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $132.58.

Advanced Micro Devices Price Performance

The business’s 50 day moving average is $100.55 and its 200-day moving average is $112.41. The firm has a market capitalization of $190.21 billion, a P/E ratio of 118.50, a PEG ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. Brighton Jones LLC lifted its holdings in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $34,366,000. Revolve Wealth Partners LLC lifted its holdings in Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after buying an additional 234 shares during the period. Spire Wealth Management acquired a new position in Advanced Micro Devices in the fourth quarter valued at $1,726,000. Finally, Stock Yards Bank & Trust Co. lifted its holdings in Advanced Micro Devices by 10.4% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 7,419 shares of the semiconductor manufacturer’s stock valued at $896,000 after buying an additional 697 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.