Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.8% Following Analyst Upgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 2.8% during trading on Thursday after DZ Bank upgraded the stock from a hold rating to a buy rating. DZ Bank now has a $118.00 price target on the stock. Advanced Micro Devices traded as high as $105.44 and last traded at $103.18. Approximately 23,275,726 shares were traded during trading, a decline of 45% from the average daily volume of 42,365,503 shares. The stock had previously closed at $100.36.

A number of other research analysts have also issued reports on AMD. Mizuho decreased their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $175.00 to $129.00 in a report on Friday, January 10th. Wolfe Research cut Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. TD Cowen upped their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.13.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s 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 sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $25,000. Greenline Partners LLC purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC grew its position in shares of Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 130 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $97.41 and a 200 day moving average of $116.65. The stock has a market cap of $166.22 billion, a PE ratio of 103.88, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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.