Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.2% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 1.2% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $185.00 to $200.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as high as $156.41 and last traded at $155.88. Approximately 21,882,924 shares changed hands during trading, a decline of 71% from the average daily volume of 74,242,242 shares. The stock had previously closed at $154.02.

A number of other research analysts have also issued reports on AMD. Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Susquehanna restated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their price objective on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Raymond James lowered shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $190.00 to $195.00 in a research note on Tuesday, January 30th. Finally, Mizuho increased their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.59.

Insider Buying and Selling at Advanced Micro Devices

In other news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the completion of the transaction, the executive vice president now directly owns 258,690 shares in the company, valued at $45,513,918.60. The disclosure for this sale can be found here. Insiders have sold a total of 341,143 shares of company stock valued at $62,580,844 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. O Dell Group LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $27,000. Northwest Bank & Trust Co acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $28,000. Gables Capital Management Inc. acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $29,000. Bare Financial Services Inc acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $29,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $29,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.7 %

The business’s fifty day moving average price is $180.16 and its 200 day moving average price is $148.28. The firm has a market capitalization of $250.63 billion, a price-to-earnings ratio of 298.24, a PEG ratio of 2.49 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 2.63 EPS for the current year.

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.