Advanced Micro Devices (NASDAQ:AMD) Shares Up 2% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 2% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $190.00 to $205.00. Wells Fargo & Company currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $185.65 and last traded at $185.59. 15,741,405 shares were traded during trading, a decline of 75% from the average session volume of 64,247,316 shares. The stock had previously closed at $181.94.

Several other research firms have also recently weighed in on AMD. Morgan Stanley cut Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 price objective on the stock. in a research report on Monday, June 10th. Benchmark lowered their target price on Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Roth Mkm lowered their target price on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group started coverage on Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 target price on the stock. Finally, Truist Financial lowered their target price on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.00.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raleigh Capital Management Inc. lifted its position in Advanced Micro Devices by 54.8% during the third quarter. Raleigh Capital Management Inc. now owns 308 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Advanced Micro Devices by 9.6% in the third quarter. Sunbelt Securities Inc. now owns 5,089 shares of the semiconductor manufacturer’s stock worth $523,000 after purchasing an additional 445 shares during the last quarter. Appleton Partners Inc. MA purchased a new position in Advanced Micro Devices in the fourth quarter worth about $246,000. Anchor Investment Management LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth about $855,000. Finally, WealthPLAN Partners LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $222,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 0.2 %

The company has a 50-day simple moving average of $163.15 and a 200-day simple moving average of $167.21. The firm has a market cap of $293.54 billion, a PE ratio of 267.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. Advanced Micro Devices’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Analysts expect that Advanced Micro Devices, Inc. will post 2.61 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.