Advanced Micro Devices (NASDAQ:AMD) Shares Up 4.3% – Here’s Why

by · The Cerbat Gem

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report) shares rose 4.3% during mid-day trading on Friday . The stock traded as high as $227.15 and last traded at $223.47. Approximately 36,294,148 shares were traded during trading, an increase of 46% from the average daily volume of 24,933,948 shares. The stock had previously closed at $214.16.

Trending Headlines about Advanced Micro Devices

Here are the key news stories impacting Advanced Micro Devices this week:

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMD shares. Susquehanna reissued a “positive” rating and set a $300.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 31st. Roth Capital reaffirmed a “buy” rating and issued a $300.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Dbs Bank raised Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a report on Monday, October 6th. Truist Financial dropped their price target on Advanced Micro Devices from $279.00 to $277.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Finally, CICC Research upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $277.06.

Read Our Latest Research Report on Advanced Micro Devices

Advanced Micro Devices Stock Performance

The business has a 50-day simple moving average of $226.71 and a 200 day simple moving average of $188.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The firm has a market cap of $363.82 billion, a PE ratio of 110.63, a PEG ratio of 1.58 and a beta of 1.95.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The company had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue was up 35.6% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, SVP Ava Hahn sold 2,868 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $226.01, for a total value of $648,196.68. Following the completion of the sale, the senior vice president owned 9,033 shares in the company, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 17,108 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $240.12, for a total value of $4,107,972.96. Following the sale, the executive vice president directly owned 1,714,505 shares in the company, valued at approximately $411,686,940.60. This represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 181,226 shares of company stock valued at $39,877,820. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. ORG Wealth Partners LLC boosted its holdings in Advanced Micro Devices by 39.7% during the 3rd quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 46 shares during the period. Koesten Hirschmann & Crabtree INC. lifted its position in shares of Advanced Micro Devices by 61.0% during the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Pinney & Scofield Inc. lifted its position in shares of Advanced Micro Devices by 81.0% during the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the last quarter. Finally, Avion Wealth grew its holdings in shares of Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

(Get Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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