Advanced Micro Devices (NASDAQ:AMD) Trading 1.2% Higher Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded up 1.2% on Thursday after TD Cowen raised their price target on the stock from $185.00 to $200.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as high as $156.41 and last traded at $155.88. 21,882,924 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 74,242,242 shares. The stock had previously closed at $154.02.

AMD has been the topic of a number of other research reports. KeyCorp lifted their price target on shares of Advanced Micro Devices from $195.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Tuesday, January 30th. Morgan Stanley lifted their price target on shares of Advanced Micro Devices from $128.00 to $193.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Barclays lifted their price target on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.59.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated 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 directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at $255,343,378.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 341,143 shares of company stock worth $62,580,844. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peoples Bank KS purchased a new position in Advanced Micro Devices in the third quarter valued at about $26,000. Spartan Planning & Wealth Management purchased a new position in Advanced Micro Devices in the third quarter valued at about $27,000. Castleview Partners LLC boosted its stake in Advanced Micro Devices by 62.5% in the second quarter. Castleview Partners LLC now owns 234 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 90 shares during the last quarter. O Dell Group LLC purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $27,000. Finally, Northwest Bank & Trust Co purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $28,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Up 1.4 %

The stock has a market capitalization of $252.41 billion, a PE ratio of 299.77, a PEG ratio of 2.49 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The stock’s 50 day simple moving average is $180.44 and its two-hundred day simple moving average is $148.23.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.63 EPS for the current year.

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.