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

Advanced Micro Devices, Inc. (NASDAQ:AMD) was up 2% during trading on Tuesday . The company traded as high as $142.35 and last traded at $141.13. Approximately 30,923,110 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 54,904,734 shares. The stock had previously closed at $138.35.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMD shares. Susquehanna reiterated a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Truist Financial lowered their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. UBS Group dropped their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Up 2.0 %

The company’s 50-day moving average price is $153.45 and its 200-day moving average price is $154.51. The firm has a market cap of $229.03 billion, a price-to-earnings ratio of 127.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in shares of 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 worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 1.3% during the third 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 lifted its position in Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after buying an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 8.7% during 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 buying an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.