Advanced Micro Devices (NASDAQ:AMD) Trading 4.4% Higher

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report)’s share price was up 4.4% during trading on Friday . The stock traded as high as $171.13 and last traded at $171.12. Approximately 19,842,004 shares were traded during trading, a decline of 69% from the average daily volume of 64,327,844 shares. The stock had previously closed at $163.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMD shares. Truist Financial dropped their price objective on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $225.00 in a research report on Tuesday, April 16th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Tuesday, May 7th. KeyCorp dropped their price objective on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group began coverage on Advanced Micro Devices in a research report on Monday, May 13th. They set a “buy” rating and a $190.00 price objective on the stock. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.83.

Read Our Latest Report on Advanced Micro Devices

Advanced Micro Devices Price Performance

The firm has a 50 day moving average of $160.28 and a 200-day moving average of $165.94. The company has a market cap of $277.84 billion, a P/E ratio of 252.80, a P/E/G ratio of 1.89 and a beta of 1.68. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently added to or reduced their stakes in AMD. Chase Investment Counsel Corp boosted its holdings in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares during the period. Washburn Capital Management Inc. purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $231,000. Pathway Financial Advisors LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $229,000. Independence Bank of Kentucky boosted its holdings in shares of Advanced Micro Devices by 84.1% in the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after purchasing an additional 1,677 shares during the period. Finally, Fortis Capital Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 137.8% in the 4th quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock worth $1,840,000 after purchasing an additional 7,235 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

(Get Free Report)

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.

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