Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.1% After Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) was up 0.1% on Friday after Piper Sandler raised their price target on the stock from $175.00 to $200.00. Piper Sandler currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $165.60 and last traded at $164.33. Approximately 11,118,131 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 57,910,074 shares. The stock had previously closed at $164.18.

A number of other analysts also recently weighed in on AMD. TD Cowen upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reaffirmed a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Citigroup upped their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of the stock. Cherrydale Wealth Management LLC boosted its holdings in Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after buying an additional 58 shares during the period. Christopher J. Hasenberg Inc boosted its holdings in Advanced Micro Devices by 12.0% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after buying an additional 60 shares during the period. Prentice Wealth Management LLC boosted its holdings in Advanced Micro Devices by 1.6% in the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after buying an additional 62 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Advanced Micro Devices by 0.9% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after buying an additional 63 shares during the period. Finally, Delta Financial Group Inc. boosted its holdings in Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The company’s fifty day moving average is $151.34 and its 200 day moving average is $157.58. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $271.36 billion, a P/E ratio of 246.90, a P/E/G ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating 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 the consensus estimate of $5.72 billion. During the same period last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

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.