Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.7% - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares were up 1.7% on Monday . The stock traded as high as $113.82 and last traded at $112.59. Approximately 13,199,109 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 41,774,951 shares. The stock had previously closed at $110.73.

Analyst Ratings Changes

A number of analysts recently commented on AMD shares. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Raymond James reiterated an "outperform" rating and set a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Evercore ISI decreased their price objective on Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus set a $132.00 target price on shares of Advanced Micro Devices in a report on Monday, April 28th. Finally, Sanford C. Bernstein cut their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Fifteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus price target of $132.58.

Advanced Micro Devices Price Performance

The company's 50-day moving average price is $100.86 and its two-hundred day moving average price is $112.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a market capitalization of $187.58 billion, a P/E ratio of 116.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the firm earned $0.62 EPS. The business's revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $34,366,000. Revolve Wealth Partners LLC increased 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 during the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 8.9% during the 4th quarter. Calamos Wealth Management LLC now owns 1,708 shares of the semiconductor manufacturer's stock worth $206,000 after buying an additional 140 shares in the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Advanced Micro Devices by 61.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 500 shares of the semiconductor manufacturer's stock worth $60,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

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.