Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.8%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 2.8% during mid-day trading on Tuesday . The company traded as high as $153.14 and last traded at $152.74. 17,762,898 shares were traded during mid-day trading, a decline of 76% from the average session volume of 73,547,125 shares. The stock had previously closed at $148.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMD. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Tuesday, January 30th. Barclays increased their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Bank of America increased their price objective on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. UBS Group increased their price objective on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Mizuho increased their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.59.

Advanced Micro Devices Stock Down 0.3 %

The stock has a market capitalization of $245.23 billion, a P/E ratio of 291.81, a PEG ratio of 2.26 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The stock’s fifty day moving average is $178.25 and its two-hundred day moving average is $149.89.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 59,293 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the completion of the sale, the executive vice president now directly owns 258,690 shares in the company, valued at $45,513,918.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares in the company, valued at approximately $42,248,089.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 341,143 shares of company stock worth $62,580,844. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently made changes to their positions in AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Advanced Micro Devices by 813.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after buying an additional 4,138,612 shares in the last quarter. International Assets Investment Management LLC lifted its position in Advanced Micro Devices by 15,896.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after buying an additional 3,714,069 shares in the last quarter. Capital World Investors lifted its position in Advanced Micro Devices by 176.9% in the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after buying an additional 2,982,704 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.