Advanced Micro Devices (NASDAQ:AMD) Trading Up 3.6% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 3.6% during trading on Monday . The stock traded as high as $140.36 and last traded at $139.70. 13,133,920 shares changed hands during trading, a decline of 76% from the average session volume of 55,420,605 shares. The stock had previously closed at $134.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen lowered their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America reissued a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

The stock has a 50-day simple moving average of $154.51 and a 200-day simple moving average of $155.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a market cap of $227.78 billion, a P/E ratio of 125.86, a PEG ratio of 1.87 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly 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. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction 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. The trade was a 2.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently made changes to their positions in the stock. Creative Capital Management Investments LLC raised its holdings in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the period. Morton Brown Family Wealth LLC grew its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices in the second quarter worth approximately $27,000. Finally, Semmax Financial Advisors Inc. raised its holdings in Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors 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.