Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.3% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price rose 0.3% during mid-day trading on Wednesday . The stock traded as high as $126.64 and last traded at $125.34. Approximately 10,603,866 shares traded hands during trading, a decline of 80% from the average daily volume of 53,605,766 shares. The stock had previously closed at $125.02.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMD. Evercore ISI lifted their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Mizuho lowered their price objective on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Citigroup decreased their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.36.

Advanced Micro Devices Stock Performance

The stock has a market cap of $205.67 billion, a price-to-earnings ratio of 114.18, a PEG ratio of 1.88 and a beta of 1.65. The firm’s 50-day moving average price is $144.88 and its two-hundred day moving average price is $151.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. On average, analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction 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 directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMD. State Street Corp increased its holdings in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Fisher Asset Management LLC grew its position in Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after purchasing an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after buying an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.