Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.8% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 2.8% on Thursday after DZ Bank upgraded the stock from a hold rating to a buy rating. DZ Bank now has a $118.00 price target on the stock. Advanced Micro Devices traded as high as $105.44 and last traded at $103.18. 23,275,726 shares changed hands during trading, a decline of 45% from the average session volume of 42,365,503 shares. The stock had previously closed at $100.36.

Several other equities research analysts have also commented on the stock. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $175.00 to $129.00 in a report on Friday, January 10th. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Evercore ISI lowered their target price on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, TD Cowen upped their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.13.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Keynote Financial Services LLC bought a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $228,000. Altfest L J & Co. Inc. acquired a new position in Advanced Micro Devices in the 1st quarter valued at $574,000. Deutsche Bank AG lifted its position in shares of Advanced Micro Devices by 27.9% during the 1st quarter. Deutsche Bank AG now owns 10,175,532 shares of the semiconductor manufacturer’s stock valued at $1,045,434,000 after acquiring an additional 2,221,905 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Advanced Micro Devices by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,549,100 shares of the semiconductor manufacturer’s stock worth $1,083,815,000 after purchasing an additional 466,048 shares in the last quarter. Finally, Coign Capital Advisors LLC increased its position in shares of Advanced Micro Devices by 12.8% in the first quarter. Coign Capital Advisors LLC now owns 5,109 shares of the semiconductor manufacturer’s stock worth $525,000 after purchasing an additional 580 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The stock has a 50 day moving average of $97.41 and a 200 day moving average of $116.65. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $166.22 billion, a price-to-earnings ratio of 103.88, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal 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.