Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.4% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.4% during mid-day trading on Monday . The company traded as high as $130.16 and last traded at $128.44. 18,755,343 shares changed hands during trading, a decline of 35% from the average session volume of 28,983,961 shares. The stock had previously closed at $125.37.

Analyst Ratings Changes

A number of research analysts have issued reports on AMD shares. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 30th. StockNews.com raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday. Mizuho decreased their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.86.

Advanced Micro Devices Trading Down 4.3 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The business’s fifty day simple moving average is $134.07 and its 200 day simple moving average is $147.40. The stock has a market cap of $197.72 billion, a price-to-earnings ratio of 109.77, a P/E/G ratio of 1.88 and a beta of 1.66.

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. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 over the last three months. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of AMD. Creative Capital Management Investments LLC boosted its position in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Global Wealth Strategies & Associates acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 111 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.