Advanced Micro Devices (NASDAQ:AMD) Shares Up 2% - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares rose 2% during mid-day trading on Friday . The stock traded as high as $123.77 and last traded at $122.99. Approximately 12,752,326 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 22,284,195 shares. The stock had previously closed at $120.63.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America downgraded Advanced Micro Devices from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Citigroup cut their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. TD Cowen dropped their target price on Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, Benchmark restated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average price target of $191.96.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a fifty day moving average price of $136.07 and a 200 day moving average price of $148.19. The stock has a market cap of $203.45 billion, a P/E ratio of 112.95, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts' consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Advanced Micro Devices's quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 over the last 90 days. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in shares of Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer's stock valued at $97,000 after buying an additional 60 shares during the period. Wealth Effects LLC lifted its holdings in Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer's stock valued at $1,545,000 after purchasing an additional 65 shares during the last quarter. Jacobsen Capital Management lifted its stake in shares of Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer's stock valued at $554,000 after buying an additional 70 shares in the last quarter. Sigma Investment Counselors Inc. grew its stake in Advanced Micro Devices by 5.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer's stock valued at $243,000 after buying an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its position in shares of Advanced Micro Devices by 4.3% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer's stock worth $292,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.