Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.6% After Strong Earnings

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 0.6% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $162.29 and last traded at $161.14. Approximately 17,488,087 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 71,746,867 shares. The stock had previously closed at $160.20.

The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.74% and a net margin of 4.89%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $225.00 in a research note on Tuesday, April 16th. Melius raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group reduced their price objective on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Northland Securities raised Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Insider Buying and Selling

In other news, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the transaction, the director now directly owns 2,197 shares in the company, valued at approximately $457,151.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total value of $1,367,501.76. Following the sale, the director now 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 341,143 shares of company stock worth $62,580,844 over the last ninety days. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of AMD. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter valued at approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Advanced Micro Devices by 813.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after purchasing an additional 4,138,612 shares during the last quarter. International Assets Investment Management LLC raised its position in Advanced Micro Devices by 15,896.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock valued at $550,935,000 after purchasing an additional 3,714,069 shares during the last quarter. Capital World Investors raised its position in Advanced Micro Devices by 176.9% during the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after purchasing an additional 2,982,704 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 2,553,392 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

The business has a 50-day simple moving average of $176.64 and a 200 day simple moving average of $151.54. The firm has a market cap of $233.16 billion, a P/E ratio of 212.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices Company Profile

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.