Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.5% – Here’s Why

by · The Markets Daily

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) shares were up 0.5% on Thursday . The stock traded as high as $141.40 and last traded at $139.95. Approximately 8,918,038 shares traded hands during trading, a decline of 84% from the average daily volume of 55,559,637 shares. The stock had previously closed at $139.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMD shares. Wedbush reissued an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Truist Financial dropped their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Check Out Our Latest Analysis on Advanced Micro Devices

Advanced Micro Devices Price Performance

The firm has a market capitalization of $227.49 billion, a P/E ratio of 126.08, a P/E/G ratio of 1.99 and a beta of 1.71. 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 stock’s fifty day simple moving average is $154.52 and its 200 day simple moving average is $155.31.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The business 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 firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the business. Creative Capital Management Investments LLC raised its position in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew 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 during the period. Morton Brown Family Wealth LLC grew its stake in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

About Advanced Micro Devices

(Get Free Report)

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.

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