Advanced Micro Devices (NASDAQ:AMD) Trading 5.3% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded up 5.3% during mid-day trading on Thursday . The company traded as high as $157.00 and last traded at $156.09. 14,480,270 shares were traded during mid-day trading, a decline of 76% from the average session volume of 59,884,746 shares. The stock had previously closed at $148.29.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of recent research reports. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald lowered their target price on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Truist Financial cut their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $252.06 billion, a P/E ratio of 229.34, a P/E/G ratio of 2.04 and a beta of 1.69. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $146.77 and its 200 day moving average is $160.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC grew its stake in Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares in the last quarter. Morton Brown Family Wealth LLC grew its position in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices in the second quarter worth $27,000. Northwest Bank & Trust Co bought a new position in Advanced Micro Devices in the fourth quarter valued at $28,000. Finally, Semmax Financial Advisors Inc. raised its position in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares in the last quarter. Institutional investors 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.