Advanced Micro Devices (NASDAQ:AMD) Shares Up 1%

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price shot up 1% on Monday . The company traded as high as $137.48 and last traded at $135.66. 7,684,342 shares changed hands during trading, a decline of 87% from the average session volume of 61,163,676 shares. The stock had previously closed at $134.35.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMD. Citigroup raised their target price on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. BNP Paribas raised shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, July 31st. Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a report on Monday, May 13th. They set a "buy" rating and a $190.00 target price for the company. Robert W. Baird dropped their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Finally, Truist Financial reduced their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus price target of $193.45.

Advanced Micro Devices Trading Up 2.8 %

The company's 50 day simple moving average is $151.31 and its 200-day simple moving average is $162.87. The firm has a market cap of $223.59 billion, a P/E ratio of 199.50, a P/E/G ratio of 1.83 and a beta of 1.69. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,200 shares of the company's stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cherrydale Wealth Management LLC increased its position in shares of Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer's stock valued at $212,000 after acquiring an additional 58 shares during the period. Prentice Wealth Management LLC grew its stake in Advanced Micro Devices by 1.6% during the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer's stock valued at $711,000 after purchasing an additional 62 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer's stock valued at $1,314,000 after purchasing an additional 63 shares during the period. Delta Financial Group Inc. raised its stake in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer's stock worth $215,000 after purchasing an additional 63 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in shares of Advanced Micro Devices by 0.3% during the fourth quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer's stock worth $2,793,000 after purchasing an additional 65 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.