Advanced Micro Devices (NASDAQ:AMD) Trading 1.2% Higher Following Analyst Upgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 1.2% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $185.00 to $200.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as high as $156.41 and last traded at $155.88. 21,882,924 shares traded hands during trading, a decline of 71% from the average session volume of 74,242,242 shares. The stock had previously closed at $154.02.

Several other equities analysts have also recently issued reports on the company. UBS Group lifted their price target on Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. HSBC upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $225.00 in a report on Tuesday. KeyCorp lifted their target price on Advanced Micro Devices from $195.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Melius upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Raymond James cut Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $190.00 to $195.00 in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.59.

Insiders Place Their Bets

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at $628,753,739.90. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock valued at $62,580,844 over the last quarter. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $3,426,529,000. Moneta Group Investment Advisors LLC boosted its holdings in Advanced Micro Devices by 105,415.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,526,710 shares of the semiconductor manufacturer’s stock valued at $552,275,000 after purchasing an additional 8,518,629 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices during the first quarter valued at approximately $777,111,000. Viking Global Investors LP acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $698,340,000. Finally, Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 35.5% in the 1st quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock worth $1,868,258,000 after acquiring an additional 4,475,368 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Up 1.4 %

The firm has a market capitalization of $252.41 billion, a price-to-earnings ratio of 299.77, a P/E/G ratio of 2.49 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $180.44 and a 200 day moving average price of $148.23.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.63 EPS for the current fiscal year.

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.