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

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating)’s stock price gapped up prior to trading on Monday after Truist Financial raised their price target on the stock from $70.00 to $79.00. The stock had previously closed at $70.07, but opened at $72.22. Truist Financial currently has a hold rating on the stock. Advanced Micro Devices shares last traded at $74.46, with a volume of 13,007,290 shares trading hands.

Several other research firms also recently issued reports on AMD. Raymond James cut their price objective on Advanced Micro Devices from $100.00 to $80.00 in a report on Wednesday, November 2nd. Piper Sandler cut their price target on Advanced Micro Devices from $140.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 6th. JPMorgan Chase & Co. cut their price target on Advanced Micro Devices from $120.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, October 7th. Susquehanna Bancshares cut their price target on Advanced Micro Devices to $95.00 in a report on Friday, September 30th. Finally, Mizuho cut their price target on Advanced Micro Devices from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insider Activity

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 16,153 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $70.95, for a total value of $1,146,055.35. Following the transaction, the executive vice president now directly owns 113,875 shares of the company’s stock, valued at approximately $8,079,431.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Fairfield Bush & CO. purchased a new stake in shares of Advanced Micro Devices in the 1st quarter worth about $836,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Advanced Micro Devices by 49.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,384,719 shares of the semiconductor manufacturer’s stock valued at $260,746,000 after purchasing an additional 791,710 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Advanced Micro Devices by 34.9% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,677 shares of the semiconductor manufacturer’s stock valued at $293,000 after purchasing an additional 692 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Advanced Micro Devices by 104.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,959 shares of the semiconductor manufacturer’s stock valued at $870,000 after purchasing an additional 4,072 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in Advanced Micro Devices by 217.2% in the 1st quarter. Baird Financial Group Inc. now owns 398,051 shares of the semiconductor manufacturer’s stock valued at $43,524,000 after purchasing an additional 272,557 shares in the last quarter. 67.17% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $123.39 billion, a PE ratio of 45.83, a price-to-earnings-growth ratio of 2.00 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.16. The stock’s fifty day simple moving average is $69.68 and its 200-day simple moving average is $74.78.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last released its earnings results on Tuesday, November 1st. The semiconductor manufacturer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Advanced Micro Devices had a net margin of 9.96% and a return on equity of 11.17%. During the same quarter last year, the company posted $0.66 earnings per share. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.97 earnings per share for the current year.

About Advanced Micro Devices

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.