Advanced Micro Devices (NASDAQ:AMD) Shares Up 1.1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded up 1.1% on Friday . The company traded as high as $138.59 and last traded at $137.76. 7,055,716 shares were traded during trading, a decline of 87% from the average session volume of 54,485,766 shares. The stock had previously closed at $136.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Roth Mkm reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

The company has a market cap of $223.04 billion, a price-to-earnings ratio of 124.11, a P/E/G ratio of 1.88 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $152.53 and its 200 day simple moving average is $154.16.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank increased its holdings in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the last quarter. Shum Financial Group Inc. purchased a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $858,000. Harvest Portfolios Group Inc. boosted its position in Advanced Micro Devices by 4.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after buying an additional 6,168 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after buying an additional 588,595 shares during the period. Institutional investors and hedge funds 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.