Advanced Micro Devices (NASDAQ:AMD) Shares Up 6.2% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 6.2% during trading on Monday . The stock traded as high as $112.74 and last traded at $113.02. 16,405,438 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 43,363,175 shares. The stock had previously closed at $106.44.

Analyst Upgrades and Downgrades

AMD has been the topic of several analyst reports. Summit Insights upgraded Advanced Micro Devices to a “hold” rating in a research report on Tuesday, February 4th. Bank of America cut their price objective on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $129.00 in a research note on Tuesday, January 28th. Truist Financial set a $130.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, Roth Capital set a $140.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $155.14.

Advanced Micro Devices Stock Up 7.0 %

The firm has a market cap of $184.62 billion, a PE ratio of 115.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The company has a 50-day simple moving average of $110.28 and a 200-day simple moving average of $131.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Philip Guido bought 4,645 shares of the company’s stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the purchase, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently modified their holdings of the company. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth $858,000. State Street Corp increased its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Geode Capital Management LLC raised its holdings in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Enzi Wealth purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $569,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $65,897,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.