Advanced Micro Devices (NASDAQ:AMD) Trading 2.2% Higher - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price was up 2.2% on Friday . The company traded as high as $122.74 and last traded at $121.06. Approximately 14,860,954 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 38,272,938 shares. The stock had previously closed at $118.44.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America downgraded shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and dropped their price target for the company from $180.00 to $155.00 in a report on Monday, December 9th. Wolfe Research downgraded shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research report on Thursday. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and decreased their target price for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Hsbc Global Res downgraded Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a research note on Wednesday, January 8th. Finally, Barclays reduced their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.61.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $197.11 billion, a PE ratio of 109.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The business's fifty day simple moving average is $130.47 and its 200-day simple moving average is $145.58.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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. The company had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices's quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 86 shares during the period. ZRC Wealth Management LLC increased its position in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $26,000. Retirement Wealth Solutions LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth about $32,000. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer's stock worth $36,000 after purchasing an additional 111 shares during the period. 71.34% of the stock is currently owned by hedge funds and other 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.