Advanced Micro Devices (NASDAQ:AMD) Trading 1.2% Higher - Here's What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded up 1.2% on Tuesday . The stock traded as high as $86.45 and last traded at $86.55. 8,887,075 shares changed hands during trading, a decline of 79% from the average session volume of 42,850,388 shares. The stock had previously closed at $85.56.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMD shares. KeyCorp cut Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Barclays cut their price target on shares of Advanced Micro Devices from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday. TD Cowen lowered their price objective on shares of Advanced Micro Devices from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wolfe Research cut shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 16th. Finally, DZ Bank cut Advanced Micro Devices from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average price target of $140.57.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company's fifty day moving average price is $99.44 and its 200 day moving average price is $121.95. The company has a market capitalization of $150.01 billion, a P/E ratio of 93.82, a PEG ratio of 1.11 and a beta of 1.89.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS 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%. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Toronto Dominion Bank lifted its stake in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after acquiring an additional 2,889,739 shares in the last quarter. Northern Trust Corp grew its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.