Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.8% – What’s Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 1.8% on Friday . The company traded as high as $121.12 and last traded at $121.00. 14,788,267 shares were traded during trading, a decline of 72% from the average session volume of 53,570,141 shares. The stock had previously closed at $118.88.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley reduced their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Evercore ISI upped their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays lowered their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Up 0.3 %

The company has a market cap of $193.45 billion, a price-to-earnings ratio of 107.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $142.00 and its 200-day moving average price is $150.54.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction 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 approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 in the last quarter. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Clear Creek Financial Management LLC lifted its position in Advanced Micro Devices by 9.3% during the 2nd quarter. Clear Creek Financial Management LLC now owns 4,686 shares of the semiconductor manufacturer’s stock worth $760,000 after buying an additional 397 shares in the last quarter. Patten Group Inc. bought a new stake in Advanced Micro Devices during the 2nd quarter worth about $206,000. Bristlecone Advisors LLC lifted its position in Advanced Micro Devices by 5.3% during the 2nd quarter. Bristlecone Advisors LLC now owns 3,628 shares of the semiconductor manufacturer’s stock worth $589,000 after buying an additional 181 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Advanced Micro Devices by 3.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 9,345 shares of the semiconductor manufacturer’s stock worth $1,516,000 after buying an additional 338 shares in the last quarter. Finally, Rational Advisors LLC lifted its position in Advanced Micro Devices by 214.2% during the 2nd quarter. Rational Advisors LLC now owns 1,483 shares of the semiconductor manufacturer’s stock worth $241,000 after buying an additional 1,011 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

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.