Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.2% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares rose 1.2% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $185.00 to $200.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as high as $156.41 and last traded at $155.88. Approximately 21,882,924 shares changed hands during trading, a decline of 71% from the average daily volume of 74,242,242 shares. The stock had previously closed at $154.02.

Several other brokerages also recently issued reports on AMD. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Tuesday, January 30th. DZ Bank reissued a “hold” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, March 7th. UBS Group lifted their target price on Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, Evercore ISI began coverage on Advanced Micro Devices in a report on Tuesday. They set an “outperform” rating and a $200.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $185.59.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 341,143 shares of company stock worth $62,580,844. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in AMD. Maryland State Retirement & Pension System lifted its position in shares of Advanced Micro Devices by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 125,510 shares of the semiconductor manufacturer’s stock valued at $22,653,000 after buying an additional 716 shares during the last quarter. Kesler Norman & Wride LLC acquired a new position in Advanced Micro Devices in the 1st quarter worth approximately $1,051,000. FORVIS Wealth Advisors LLC grew its stake in shares of Advanced Micro Devices by 37.1% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 5,029 shares of the semiconductor manufacturer’s stock worth $908,000 after purchasing an additional 1,361 shares during the period. Veracity Capital LLC grew its stake in shares of Advanced Micro Devices by 17.1% during the 1st quarter. Veracity Capital LLC now owns 4,822 shares of the semiconductor manufacturer’s stock worth $870,000 after purchasing an additional 703 shares during the period. Finally, Willis Johnson & Associates Inc. grew its stake in shares of Advanced Micro Devices by 29.6% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,840 shares of the semiconductor manufacturer’s stock worth $513,000 after purchasing an additional 648 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 5.4 %

The stock has a market cap of $236.99 billion, a PE ratio of 282.01, a price-to-earnings-growth ratio of 2.35 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $179.64 and a 200-day moving average price of $148.58.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 2.63 earnings per share for the current year.

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.