Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.1%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 1.1% on Wednesday . The stock traded as high as $161.15 and last traded at $160.12. 8,945,430 shares traded hands during trading, a decline of 85% from the average session volume of 59,298,496 shares. The stock had previously closed at $158.32.

Wall Street Analysts Forecast Growth

AMD has been the subject of several analyst reports. Citigroup increased their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Edward Jones initiated coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. KeyCorp reduced their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Bank of America lowered their target price on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Price Performance

The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $145.92 and its two-hundred day moving average price is $159.27. The stock has a market capitalization of $261.47 billion, a PE ratio of 235.47, a PEG ratio of 2.14 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its position in shares of Advanced Micro Devices by 102.9% during the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. raised its position in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at $27,000. Valued Wealth Advisors LLC increased its stake in shares of Advanced Micro Devices by 70.7% in the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 70 shares during the period. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the last quarter. Institutional investors 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.