Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 3.3%

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating)’s stock price rose 3.3% during trading on Thursday . The stock traded as high as $92.70 and last traded at $92.64. Approximately 14,328,721 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 57,936,637 shares. The stock had previously closed at $89.68.

Analysts Set New Price Targets

AMD has been the topic of several recent analyst reports. Craig Hallum cut Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $76.00 price target on the stock. in a research note on Wednesday, February 1st. StockNews.com began coverage on Advanced Micro Devices in a research note on Thursday. They issued a “sell” rating on the stock. Citigroup upped their price objective on Advanced Micro Devices from $65.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Sanford C. Bernstein lowered Advanced Micro Devices from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $95.00 to $80.00 in a report on Tuesday, January 24th. Finally, Credit Suisse Group upped their target price on Advanced Micro Devices from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.60.

Advanced Micro Devices Trading Up 1.3 %

The business has a 50 day simple moving average of $79.37 and a 200-day simple moving average of $72.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.77 and a current ratio of 2.36. The stock has a market capitalization of $157.66 billion, a P/E ratio of 111.18, a price-to-earnings-growth ratio of 5.30 and a beta of 1.95.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Advanced Micro Devices had a return on equity of 8.52% and a net margin of 5.59%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices, Inc. will post 2.41 EPS for the current year.

Insider Activity

In other news, EVP Rick Bergman sold 3,000 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $85.88, for a total transaction of $257,640.00. Following the completion of the sale, the executive vice president now owns 155,232 shares in the company, valued at approximately $13,331,324.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $81.69, for a total value of $2,450,700.00. Following the completion of the sale, the executive vice president now owns 1,516,945 shares in the company, valued at $123,919,237.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rick Bergman sold 3,000 shares of the stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $85.88, for a total value of $257,640.00. Following the completion of the sale, the executive vice president now owns 155,232 shares of the company’s stock, valued at approximately $13,331,324.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,000 shares of company stock worth $5,264,040. Insiders own 1.00% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the business. My Personal CFO LLC raised its holdings in shares of Advanced Micro Devices by 2,900.0% during the fourth quarter. My Personal CFO LLC now owns 180 shares of the semiconductor manufacturer’s stock worth $405,000 after acquiring an additional 174 shares in the last quarter. Samalin Investment Counsel LLC raised its holdings in shares of Advanced Micro Devices by 112.5% during the first quarter. Samalin Investment Counsel LLC now owns 340 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 180 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. raised its holdings in shares of Advanced Micro Devices by 1,915.8% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 383 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 364 shares in the last quarter. SouthState Corp raised its holdings in shares of Advanced Micro Devices by 234.5% during the third quarter. SouthState Corp now owns 388 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Finally, TD Capital Management LLC purchased a new stake in shares of Advanced Micro Devices during the third quarter worth $25,000. Hedge funds and other institutional investors own 67.17% of the company’s stock.

About Advanced Micro Devices

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.