Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 3.9%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 3.9% during trading on Wednesday . The stock traded as high as $143.04 and last traded at $142.32. 18,761,838 shares changed hands during trading, a decline of 70% from the average session volume of 61,677,922 shares. The stock had previously closed at $136.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Edward Jones assumed coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. TD Cowen reissued a “buy” rating and set a $210.00 price target on shares of Advanced Micro Devices in a research note on Monday, August 19th. Cantor Fitzgerald dropped their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $225.38 billion, a price-to-earnings ratio of 205.06, a P/E/G ratio of 2.03 and a beta of 1.69. The stock’s 50 day moving average price is $151.87 and its 200 day moving average price is $163.17. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Advanced Micro Devices by 8.5% during the fourth quarter. International Assets Investment Management LLC now owns 25,354 shares of the semiconductor manufacturer’s stock worth $3,737,000 after acquiring an additional 1,990 shares during the period. Gables Capital Management Inc. bought a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $29,000. Precision Wealth Strategies LLC raised its position in shares of Advanced Micro Devices by 4.0% in the fourth quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock valued at $598,000 after buying an additional 155 shares in the last quarter. Concentrum Wealth Management boosted its stake in shares of Advanced Micro Devices by 6.6% in the fourth quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock valued at $5,625,000 after buying an additional 2,354 shares during the period. Finally, 9258 Wealth Management LLC grew its position in Advanced Micro Devices by 70.4% during the fourth quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock worth $1,787,000 after buying an additional 5,009 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.