Advanced Micro Devices (NASDAQ:AMD) Trading Up 2% on Analyst Upgrade

Posted by ABMN Staff on Jul 14th, 2024

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report)’s share price shot up 2% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $190.00 to $205.00. Wells Fargo & Company currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $185.65 and last traded at $185.59. 15,741,405 shares traded hands during trading, a decline of 75% from the average session volume of 64,247,316 shares. The stock had previously closed at $181.94.

Several other research analysts have also recently weighed in on AMD. Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. Benchmark cut their price target on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald reduced their price target on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Roth Mkm lowered their price objective on shares of Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Saturday, June 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.00.

Read Our Latest Research Report on Advanced Micro Devices

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $245,757,319.38. The sale 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

Several institutional investors and hedge funds have recently modified their holdings of the business. Chase Investment Counsel Corp boosted its holdings in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares in the last quarter. Washburn Capital Management Inc. bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $231,000. Pathway Financial Advisors LLC bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $229,000. Independence Bank of Kentucky lifted its holdings in shares of Advanced Micro Devices by 84.1% in the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Fortis Capital Advisors LLC boosted its stake in shares of Advanced Micro Devices by 137.8% in the 4th quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after purchasing an additional 7,235 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The company has a market cap of $293.54 billion, a P/E ratio of 267.08, a price-to-earnings-growth ratio of 2.10 and a beta of 1.68. The company’s fifty day moving average is $163.15 and its 200 day moving average is $167.38.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

About Advanced Micro Devices

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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.