Advanced Micro Devices (NASDAQ:AMD) Trading 4.2% Higher - What's Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded up 4.2% during mid-day trading on Thursday . The stock traded as high as $145.82 and last traded at $144.28. 31,774,197 shares traded hands during trading, a decline of 24% from the average session volume of 41,884,894 shares. The stock had previously closed at $138.41.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James Financial reissued an "outperform" rating and set a $120.00 price target (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Benchmark reissued a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. HSBC raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a report on Thursday. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock's 50 day simple moving average is $121.21 and its two-hundred day simple moving average is $112.07. The stock has a market cap of $237.41 billion, a P/E ratio of 107.66, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC lifted its position in Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Advanced Micro Devices by 36.9% during the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock worth $589,000 after buying an additional 1,315 shares during the period. Finally, Moors & Cabot Inc. boosted its position in Advanced Micro Devices by 11.6% during the 4th quarter. Moors & Cabot Inc. now owns 23,446 shares of the semiconductor manufacturer's stock worth $2,832,000 after buying an additional 2,428 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.