Advanced Micro Devices (NASDAQ:AMD) Shares Up 2% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 2% during trading on Friday . The company traded as high as $123.77 and last traded at $122.99. Approximately 12,752,326 shares traded hands during trading, a decline of 43% from the average daily volume of 22,284,195 shares. The stock had previously closed at $120.63.

Analysts Set New Price Targets

AMD has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Performance

The stock has a fifty day moving average of $136.07 and a 200-day moving average of $148.19. The firm has a market capitalization of $201.55 billion, a P/E ratio of 111.89, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

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

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated 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 sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last ninety days. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently bought and sold shares of AMD. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices in the second quarter valued at about $27,000. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.