Advanced Micro Devices (NASDAQ:AMD) Trading 1.6% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 1.6% on Thursday . The company traded as high as $149.49 and last traded at $148.68. 13,082,739 shares were traded during mid-day trading, a decline of 79% from the average session volume of 62,117,242 shares. The stock had previously closed at $146.36.

Analyst Ratings Changes

A number of analysts recently issued reports on AMD shares. Citigroup raised their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. KeyCorp reduced their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Cantor Fitzgerald dropped their price objective on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.82. The stock has a market cap of $240.12 billion, a PE ratio of 218.47, a PEG ratio of 1.79 and a beta of 1.69. The company’s 50-day moving average price is $153.56 and its two-hundred day moving average price is $164.27.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly 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. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $245,757,319.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Brown Financial Advisors purchased a new position in Advanced Micro Devices during the 2nd quarter valued at $1,552,000. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Advanced Micro Devices by 74.0% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 119,293 shares of the semiconductor manufacturer’s stock valued at $19,351,000 after purchasing an additional 50,730 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Advanced Micro Devices during the second quarter valued at about $450,000. Sycomore Asset Management raised 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 worth $21,722,000 after buying an additional 30,677 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Advanced Micro Devices in the second quarter worth about $730,000. 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.