Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.3%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 2.3% during trading on Wednesday . The company traded as high as $169.81 and last traded at $168.52. 16,810,678 shares were traded during mid-day trading, a decline of 75% from the average session volume of 67,721,492 shares. The stock had previously closed at $164.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a research report on Monday, May 13th. They set a “buy” rating and a $190.00 target price for the company. Truist Financial lowered their price objective on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Bank of America upped their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, January 29th. KeyCorp lowered their price target on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, UBS Group cut their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.26.

Advanced Micro Devices Stock Performance

The firm has a 50-day moving average price of $164.75 and a two-hundred day moving average price of $157.32. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm has a market cap of $261.49 billion, a PE ratio of 235.93, a P/E/G ratio of 1.90 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the sale, the chief executive officer now directly owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,650 shares of company stock worth $31,761,199. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of the stock. Addison Advisors LLC lifted its stake in Advanced Micro Devices by 41.9% during the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 62 shares during the last quarter. Prentice Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 1.6% during the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after buying an additional 62 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Advanced Micro Devices by 0.9% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after buying an additional 63 shares in the last quarter. Schear Investment Advisers LLC boosted its holdings in shares of Advanced Micro Devices by 0.4% in the 4th quarter. Schear Investment Advisers LLC now owns 15,762 shares of the semiconductor manufacturer’s stock valued at $2,323,000 after buying an additional 64 shares in the last quarter. Finally, Fiduciary Group LLC grew its position in shares of Advanced Micro Devices by 2.7% in the 4th quarter. Fiduciary Group LLC now owns 2,516 shares of the semiconductor manufacturer’s stock valued at $371,000 after buying an additional 65 shares during the last quarter. Hedge funds and other 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.