Advanced Micro Devices (NASDAQ:AMD) Trading 1.5% Higher – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares rose 1.5% on Thursday . The company traded as high as $206.36 and last traded at $201.06. Approximately 29,255,373 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 48,999,313 shares. The stock had previously closed at $198.11.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Cowen restated a “buy” rating on shares of Advanced Micro Devices in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Advanced Micro Devices in a report on Monday. Melius Research set a $380.00 target price on Advanced Micro Devices in a report on Wednesday, November 12th. Finally, HSBC boosted their target price on shares of Advanced Micro Devices from $185.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.11.

Advanced Micro Devices Stock Up 1.5%

The firm has a market capitalization of $327.33 billion, a PE ratio of 99.54, a price-to-earnings-growth ratio of 1.55 and a beta of 1.93. The firm’s 50-day moving average is $230.39 and its 200 day moving average is $181.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The company had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the sale, the executive vice president directly owned 300,348 shares in the company, valued at $68,890,820.76. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.14, for a total value of $26,892,500.00. Following the sale, the chief executive officer directly owned 3,277,476 shares in the company, valued at approximately $705,116,186.64. The trade was a 3.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 183,476 shares of company stock worth $40,249,093 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. AIA Group Ltd grew its holdings in shares of Advanced Micro Devices by 52.7% during the third quarter. AIA Group Ltd now owns 19,309 shares of the semiconductor manufacturer’s stock worth $3,124,000 after buying an additional 6,661 shares in the last quarter. Keel Point LLC lifted its stake in shares of Advanced Micro Devices by 2.9% during the third quarter. Keel Point LLC now owns 6,317 shares of the semiconductor manufacturer’s stock valued at $1,022,000 after buying an additional 179 shares during the period. Garde Capital Inc. boosted its position in Advanced Micro Devices by 44.8% during the third quarter. Garde Capital Inc. now owns 1,310 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 405 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in Advanced Micro Devices in the 3rd quarter worth approximately $243,000. Finally, Allworth Financial LP raised its holdings in Advanced Micro Devices by 26.9% in the 3rd quarter. Allworth Financial LP now owns 87,543 shares of the semiconductor manufacturer’s stock valued at $14,164,000 after acquiring an additional 18,556 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.