Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.4% Following Strong Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares shot up 0.4% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $103.42 and last traded at $99.06. 38,254,601 shares were traded during trading, a decline of 9% from the average session volume of 42,234,575 shares. The stock had previously closed at $98.62.

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 during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James reaffirmed an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday. Morgan Stanley cut their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday. UBS Group decreased their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup restated a "buy" rating on shares of Advanced Micro Devices in a research note on Wednesday, April 16th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus target price of $132.77.

Insider Transactions at Advanced Micro Devices

In other news, EVP Philip Guido purchased 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares of the company's stock, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was 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 directly owns 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 disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of AMD. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices in the fourth quarter worth approximately $25,000. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC increased its position in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $29,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $159.20 billion, a PE ratio of 98.63, a PEG ratio of 1.11 and a beta of 1.97. The business's 50 day moving average is $97.29 and its 200 day moving average is $117.51.

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.

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