Advanced Micro Devices (NASDAQ:AMD) Shares Up 2% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 2% on Wednesday . The company traded as high as $124.41 and last traded at $124.76. 10,206,617 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 37,293,828 shares. The stock had previously closed at $122.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMD shares. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Loop Capital began coverage on shares of Advanced Micro Devices in a report on Tuesday, January 14th. They set a “buy” rating and a $175.00 target price for the company. Evercore ISI upped their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Price Performance

The stock has a market cap of $199.35 billion, a price-to-earnings ratio of 110.67, a P/E/G ratio of 1.09 and a beta of 1.66. 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 50 day simple moving average is $128.36 and its two-hundred day simple moving average is $144.12.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,036 shares of company stock valued at $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares in the last quarter. Swiss National Bank grew its stake in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the last quarter. Shum Financial Group Inc. acquired a new stake in shares of Advanced Micro Devices in the third quarter valued at approximately $858,000. State Street Corp raised its position in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.