Advanced Micro Devices (NASDAQ:AMD) Trading 0.7% Higher – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 0.7% during mid-day trading on Monday . The stock traded as high as $138.59 and last traded at $137.18. 16,085,714 shares traded hands during trading, a decline of 71% from the average session volume of 54,531,559 shares. The stock had previously closed at $136.24.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMD shares. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. TD Cowen decreased their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Edward Jones started coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, UBS Group dropped their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Price Performance

The company has a market cap of $222.62 billion, a P/E ratio of 123.59, a P/E/G ratio of 1.89 and a beta of 1.71. The company’s 50-day moving average price is $152.16 and its two-hundred day moving average price is $154.03. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its holdings in Advanced Micro Devices by 18.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,750 shares of the semiconductor manufacturer’s stock worth $770,000 after acquiring an additional 733 shares during the period. Mather Group LLC. grew its position in Advanced Micro Devices by 57.0% in the second quarter. Mather Group LLC. now owns 14,402 shares of the semiconductor manufacturer’s stock worth $2,336,000 after buying an additional 5,226 shares during the last quarter. Fragasso Financial Advisors Inc increased its holdings in shares of Advanced Micro Devices by 25.5% in the second quarter. Fragasso Financial Advisors Inc now owns 1,585 shares of the semiconductor manufacturer’s stock valued at $257,000 after buying an additional 322 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Advanced Micro Devices by 28.6% during the 2nd quarter. Trust Co. of Vermont now owns 4,546 shares of the semiconductor manufacturer’s stock valued at $737,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Advanced Micro Devices in the 2nd quarter worth $199,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.