Advanced Micro Devices (NASDAQ:AMD) Shares Up 1.4% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 1.4% during trading on Wednesday . The company traded as high as $127.51 and last traded at $126.29. 24,829,563 shares were traded during trading, a decline of 54% from the average session volume of 53,598,766 shares. The stock had previously closed at $124.60.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. TD Cowen lowered their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Citigroup lowered their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $204.94 billion, a P/E ratio of 113.77, a P/E/G ratio of 1.88 and a beta of 1.66. The stock has a fifty day moving average of $140.58 and a 200-day moving average of $149.84. 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 quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates 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 firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last three months. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in shares of Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Advanced Micro Devices during the 2nd quarter worth about $296,178,000. Finally, State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 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.