Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.7% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 2.7% on Friday . The company traded as high as $94.76 and last traded at $91.07. Approximately 22,625,247 shares traded hands during trading, a decline of 48% from the average daily volume of 43,442,088 shares. The stock had previously closed at $88.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMD. Truist Financial set a $130.00 target price on Advanced Micro Devices in a research note on Wednesday, February 5th. Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Wolfe Research cut shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Summit Insights raised shares of Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $151.34.

Advanced Micro Devices Stock Up 5.3 %

The firm has a market cap of $151.01 billion, a price-to-earnings ratio of 94.32, a PEG ratio of 1.11 and a beta of 1.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business’s 50-day moving average is $103.42 and its 200-day moving average is $126.29.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Philip Guido acquired 4,645 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Howard Capital Management Group LLC raised its position in Advanced Micro Devices by 21.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock valued at $300,000 after buying an additional 324 shares during the last quarter. Principal Financial Group Inc. increased its stake in Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after buying an additional 588,595 shares during the last quarter. Fortem Financial Group LLC boosted its stake in shares of Advanced Micro Devices by 11.3% during the 3rd quarter. Fortem Financial Group LLC now owns 2,942 shares of the semiconductor manufacturer’s stock worth $483,000 after buying an additional 299 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Advanced Micro Devices by 5.5% in the third quarter. TD Private Client Wealth LLC now owns 10,528 shares of the semiconductor manufacturer’s stock valued at $1,727,000 after acquiring an additional 550 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in Advanced Micro Devices by 27.3% during the third quarter. Rehmann Capital Advisory Group now owns 7,847 shares of the semiconductor manufacturer’s stock valued at $1,289,000 after purchasing an additional 1,684 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.