Advanced Micro Devices (NASDAQ:AMD) Shares Gap Up to $31.18

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $32.05, but opened at $31.18. Advanced Micro Devices shares last traded at $31.89, with a volume of 38,847,510 shares changing hands.

A number of equities research analysts recently commented on the stock. Craig Hallum downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Wednesday, July 31st. MKM Partners raised their price objective on shares of Advanced Micro Devices to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Co restated a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Wedbush downgraded shares of Advanced Micro Devices from an “equal weight” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Nomura raised their price objective on shares of Advanced Micro Devices from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the stock. Advanced Micro Devices presently has an average rating of “Hold” and a consensus price target of $31.59.

The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $32.19 and its two-hundred day moving average price is $28.15. The firm has a market capitalization of $33.85 billion, a PE ratio of 90.57, a PEG ratio of 2.65 and a beta of 3.06.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Advanced Micro Devices had a net margin of 3.25% and a return on equity of 16.04%. The company’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. Analysts expect that Advanced Micro Devices, Inc. will post 0.5 earnings per share for the current year.

In other Advanced Micro Devices news, Director Nora Denzel sold 31,737 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $34.29, for a total value of $1,088,261.73. Following the transaction, the director now owns 152,899 shares in the company, valued at approximately $5,242,906.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $28.39, for a total transaction of $170,340.00. Following the completion of the transaction, the senior vice president now owns 22,979 shares in the company, valued at approximately $652,373.81. The disclosure for this sale can be found here. Insiders have sold a total of 1,878,524 shares of company stock worth $60,911,813 in the last 90 days. Company insiders own 1.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of AMD. Dimensional Fund Advisors LP grew its position in Advanced Micro Devices by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,399,337 shares of the semiconductor manufacturer’s stock worth $62,743,000 after purchasing an additional 136,475 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock worth $240,885,000 after acquiring an additional 1,651,507 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Advanced Micro Devices in the 1st quarter worth approximately $215,000. Winslow Evans & Crocker Inc. lifted its stake in shares of Advanced Micro Devices by 89.2% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,490 shares of the semiconductor manufacturer’s stock worth $64,000 after acquiring an additional 1,174 shares during the period. Finally, Perkins Capital Management Inc. lifted its stake in shares of Advanced Micro Devices by 7.0% in the 1st quarter. Perkins Capital Management Inc. now owns 15,250 shares of the semiconductor manufacturer’s stock worth $389,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 62.86% of the company’s stock.

About Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

Featured Story: What is a Leveraged Buyout (LBO)?

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.