Advanced Micro Devices (NASDAQ:AMD) Shares Up 2% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report)’s stock price was up 2% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $190.00 to $205.00. Wells Fargo & Company currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $185.65 and last traded at $185.59. Approximately 15,741,405 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 64,247,316 shares. The stock had previously closed at $181.94.

A number of other analysts have also weighed in on the stock. Mizuho reduced their price objective on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Benchmark decreased their price objective on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Evercore ISI lowered their price objective on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. KeyCorp reduced their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, TD Cowen increased their price objective on Advanced Micro Devices from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.00.

Check Out Our Latest Analysis on Advanced Micro Devices

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of AMD. Tradewinds Capital Management LLC grew its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 70.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 70 shares during the last quarter. Chelsea Counsel Co. acquired a new stake in shares of Advanced Micro Devices in the 1st quarter worth $34,000. Finally, Northwest Bank & Trust Co purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. The firm has a market cap of $300.52 billion, a PE ratio of 272.93, a P/E/G ratio of 2.13 and a beta of 1.68. The company has a 50 day simple moving average of $162.53 and a two-hundred day simple moving average of $166.92.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the company earned $0.43 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that Advanced Micro Devices, Inc. will post 2.61 EPS for the current fiscal year.

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.

Featured Stories

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.