Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.3%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 2.3% during trading on Wednesday . The stock traded as high as $169.81 and last traded at $168.52. Approximately 16,810,678 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 67,721,492 shares. The stock had previously closed at $164.66.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMD shares. Jefferies Financial Group assumed coverage on Advanced Micro Devices in a research report on Monday, May 13th. They set a “buy” rating and a $190.00 price objective on the stock. KeyCorp lowered their target price on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Cantor Fitzgerald cut their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.26.

Advanced Micro Devices Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92. The stock has a market capitalization of $266.85 billion, a P/E ratio of 247.83, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The stock has a fifty day moving average price of $165.87 and a 200 day moving average price of $157.24.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.62 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares of the company’s stock, valued at $457,151.76. The disclosure for this sale can be found here. Insiders sold a total of 165,650 shares of company stock worth $31,761,199 over the last three months. 0.65% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in AMD. Vanguard Group Inc. raised its holdings in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after acquiring an additional 600,638 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after acquiring an additional 2,553,392 shares during the period. Jennison Associates LLC grew its holdings in Advanced Micro Devices by 5.9% during the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after purchasing an additional 1,490,997 shares during the period. Finally, Norges Bank purchased a new stake in Advanced Micro Devices in the 4th quarter worth $3,426,529,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.