Advanced Micro Devices (NASDAQ:AMD) Trading 1.5% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded up 1.5% during trading on Thursday . The stock traded as high as $168.68 and last traded at $164.53. 15,763,619 shares changed hands during trading, a decline of 73% from the average session volume of 59,195,070 shares. The stock had previously closed at $162.02.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald cut their target price on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Truist Financial dropped their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Susquehanna restated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Bank of America dropped their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Stock Up 1.8 %

The firm has a market cap of $266.97 billion, a P/E ratio of 241.96, a price-to-earnings-growth ratio of 2.14 and a beta of 1.69. The stock’s 50 day simple moving average is $145.98 and its 200 day simple moving average is $159.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

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

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction on Monday, July 15th. The shares were 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 approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tradewinds Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. boosted its holdings in shares of Advanced Micro Devices by 926.7% in 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 Advanced Micro Devices during the second quarter valued at about $27,000. Valued Wealth Advisors LLC lifted its holdings in Advanced Micro Devices by 70.7% during the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 70 shares during the last quarter. Finally, Morton Brown Family Wealth LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 85 shares during the last quarter. 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.