Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.1% – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 2.1% during trading on Wednesday . The company traded as high as $117.68 and last traded at $116.57. 13,194,733 shares changed hands during trading, a decline of 65% from the average session volume of 37,813,770 shares. The stock had previously closed at $114.17.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. KeyCorp cut their target price on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. UBS Group cut their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Susquehanna cut their target price on shares of Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $171.04.

Advanced Micro Devices Stock Performance

The firm’s 50 day moving average is $126.37 and its two-hundred day moving average is $141.93. The stock has a market capitalization of $191.66 billion, a PE ratio of 106.33, a P/E/G ratio of 1.04 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

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

Insider Buying and Selling at Advanced Micro Devices

In related 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMD. New Century Financial Group LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter worth $246,000. American Trust boosted its stake in Advanced Micro Devices by 41.4% during the 2nd quarter. American Trust now owns 1,741 shares of the semiconductor manufacturer’s stock worth $282,000 after purchasing an additional 510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Advanced Micro Devices by 258.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,098,788 shares of the semiconductor manufacturer’s stock worth $178,234,000 after purchasing an additional 792,005 shares during the period. Anchor Investment Management LLC boosted its stake in Advanced Micro Devices by 1.6% during the 2nd quarter. Anchor Investment Management LLC now owns 5,919 shares of the semiconductor manufacturer’s stock worth $960,000 after purchasing an additional 94 shares during the period. Finally, Centaurus Financial Inc. boosted its stake in Advanced Micro Devices by 28.9% during the 2nd quarter. Centaurus Financial Inc. now owns 26,197 shares of the semiconductor manufacturer’s stock worth $4,249,000 after purchasing an additional 5,868 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.