Advanced Micro Devices (NASDAQ:AMD) Shares Up 1.1% – Here’s Why

by · The Markets Daily

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report)’s share price shot up 1.1% during trading on Friday . The company traded as high as $138.59 and last traded at $137.76. 7,055,716 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 54,485,766 shares. The stock had previously closed at $136.24.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMD. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 31st. Edward Jones started coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. Morgan Stanley cut their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Evercore ISI increased their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Read Our Latest Stock Report on Advanced Micro Devices

Advanced Micro Devices Trading Up 0.9 %

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $223.04 billion, a P/E ratio of 124.11, a P/E/G ratio of 1.88 and a beta of 1.71. The company’s 50 day simple moving average is $152.53 and its 200-day simple moving average is $154.16.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank grew its holdings in Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares during the last quarter. Shum Financial Group Inc. purchased a new position in Advanced Micro Devices in the third quarter worth $858,000. Harvest Portfolios Group Inc. grew its holdings in Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after purchasing an additional 6,168 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Advanced Micro Devices by 30.2% in the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after purchasing an additional 588,595 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

(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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