Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.2% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 1.2% 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 mid-day trading, a decline of 71% from the average session volume of 74,242,242 shares. The stock had previously closed at $154.02.

Other research analysts also recently issued research reports about the stock. Mizuho raised their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Melius raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. UBS Group raised their target price on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley raised their target price on shares of Advanced Micro Devices from $128.00 to $193.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and raised their target price for the company from $180.00 to $225.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.59.

Insider Activity at Advanced Micro Devices

In related news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the sale, the executive vice president now directly owns 258,690 shares in the company, valued at $45,513,918.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 341,143 shares of company stock valued at $62,580,844. 0.73% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC grew its holdings in Advanced Micro Devices by 1.3% during the 1st quarter. SeaCrest Wealth Management LLC now owns 35,704 shares of the semiconductor manufacturer’s stock worth $6,444,000 after acquiring an additional 451 shares during the period. Naviter Wealth LLC grew its holdings in Advanced Micro Devices by 10.6% during the 1st quarter. Naviter Wealth LLC now owns 9,630 shares of the semiconductor manufacturer’s stock worth $1,738,000 after acquiring an additional 921 shares during the period. State of Michigan Retirement System grew its holdings in Advanced Micro Devices by 18.5% during the 1st quarter. State of Michigan Retirement System now owns 913,140 shares of the semiconductor manufacturer’s stock worth $164,813,000 after acquiring an additional 142,400 shares during the period. Woodmont Investment Counsel LLC acquired a new stake in Advanced Micro Devices during the 1st quarter worth about $286,000. Finally, Synergy Asset Management LLC grew its holdings in Advanced Micro Devices by 8.1% during the 1st quarter. Synergy Asset Management LLC now owns 26,697 shares of the semiconductor manufacturer’s stock worth $4,819,000 after acquiring an additional 1,997 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The stock has a fifty day simple moving average of $180.16 and a two-hundred day simple moving average of $148.28. The stock has a market capitalization of $250.63 billion, a price-to-earnings ratio of 298.24, a P/E/G ratio of 2.49 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Advanced Micro Devices, Inc. will post 2.63 earnings per share 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.