Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.1%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price rose 1.1% during mid-day trading on Wednesday . The company traded as high as $161.15 and last traded at $160.12. Approximately 8,945,430 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 59,298,496 shares. The stock had previously closed at $158.32.

Analysts Set New Price Targets

AMD has been the topic of a number of recent research reports. Edward Jones initiated coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They issued a “buy” rating on the stock. Bank of America reduced their price target on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup lifted their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Robert W. Baird reduced their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $265.72 billion, a P/E ratio of 244.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.69. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $146.21 and a 200-day moving average of $159.34.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping 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 firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $0.40 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Advanced Micro Devices

Large investors have recently bought and sold shares of the company. Precision Wealth Strategies LLC raised its stake in shares of Advanced Micro Devices by 4.0% during the 4th quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock valued at $598,000 after purchasing an additional 155 shares during the period. Concentrum Wealth Management lifted its holdings in shares of Advanced Micro Devices by 6.6% in the fourth quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock worth $5,625,000 after buying an additional 2,354 shares in the last quarter. 9258 Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 70.4% in the fourth quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock valued at $1,787,000 after acquiring an additional 5,009 shares during the period. Stifel Financial Corp grew its stake in Advanced Micro Devices by 6.0% during the fourth quarter. Stifel Financial Corp now owns 466,500 shares of the semiconductor manufacturer’s stock valued at $68,767,000 after acquiring an additional 26,383 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $2,706,000. 71.34% of the stock is owned by hedge funds and other 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.