Advanced Micro Devices (NASDAQ:AMD) Trading 5.3% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 5.3% during trading on Thursday . The stock traded as high as $157.00 and last traded at $156.09. 14,480,270 shares were traded during trading, a decline of 76% from the average session volume of 59,884,746 shares. The stock had previously closed at $148.29.

Analyst Ratings Changes

AMD has been the topic of several recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup raised their target price on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Bank of America lowered their price target on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, KeyCorp dropped their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $253.87 billion, a P/E ratio of 229.54, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $147.79 and its two-hundred day simple moving average is $161.04.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in the business. Precision Wealth Strategies LLC increased its stake in shares of Advanced Micro Devices by 4.0% in the fourth quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock worth $598,000 after purchasing an additional 155 shares in the last quarter. Concentrum Wealth Management raised its holdings in Advanced Micro Devices by 6.6% during the 4th quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock valued at $5,625,000 after acquiring an additional 2,354 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 70.4% during the fourth quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock worth $1,787,000 after acquiring an additional 5,009 shares in the last quarter. Sachetta LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth $45,000. Finally, D.A. Davidson & CO. grew its position in shares of Advanced Micro Devices by 24.6% in the fourth quarter. D.A. Davidson & CO. now owns 25,919 shares of the semiconductor manufacturer’s stock valued at $3,821,000 after purchasing an additional 5,121 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.