Advanced Micro Devices (NASDAQ:AMD) Trading 1.8% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price rose 1.8% during mid-day trading on Wednesday . The stock traded as high as $162.86 and last traded at $162.63. Approximately 7,325,171 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 58,544,781 shares. The stock had previously closed at $159.75.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. KeyCorp cut their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Citigroup raised their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Truist Financial cut their price target on 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. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The business has a fifty day simple moving average of $146.75 and a 200 day simple moving average of $158.17. The stock has a market cap of $258.63 billion, a price-to-earnings ratio of 239.18, a PEG ratio of 2.14 and a beta of 1.69.

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

Insider Activity at Advanced Micro Devices

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

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of AMD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after acquiring an additional 116,020 shares during the period. Chapin Davis Inc. lifted its position in shares of Advanced Micro Devices by 613.4% in the 1st quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock worth $2,213,000 after buying an additional 10,544 shares during the last quarter. Gordian Capital Singapore Pte Ltd raised its position in shares of Advanced Micro Devices by 77.4% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 49,093 shares of the semiconductor manufacturer’s stock worth $7,237,000 after purchasing an additional 21,417 shares during the period. Sycomore Asset Management lifted its stake in Advanced Micro Devices by 28.6% in the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after buying an additional 30,677 shares during the last quarter. Finally, Bank of New Hampshire grew its position in Advanced Micro Devices by 811.3% in the 1st quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock worth $1,456,000 after purchasing an additional 7,180 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.