Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.5% - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price rose 1.5% during mid-day trading on Tuesday . The company traded as high as $116.32 and last traded at $116.32. Approximately 11,740,697 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 41,737,984 shares. The stock had previously closed at $114.63.

Analyst Ratings Changes

AMD has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $120.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Stifel Nicolaus set a $132.00 target price on shares of Advanced Micro Devices in a research note on Monday, April 28th. Finally, Piper Sandler reiterated an "overweight" rating and set a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Stock Up 1.1%

The firm has a market cap of $192.27 billion, a price-to-earnings ratio of 119.78, a P/E/G ratio of 1.11 and a beta of 1.97. The firm's fifty day moving average is $100.86 and its two-hundred day moving average 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.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the company earned $0.62 EPS. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank raised its holdings in Advanced Micro Devices by 14.6% during the 1st quarter. First Hawaiian Bank now owns 4,515 shares of the semiconductor manufacturer's stock worth $464,000 after buying an additional 574 shares during the period. Invst LLC acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at about $289,000. Hodges Capital Management Inc. increased its holdings in shares of Advanced Micro Devices by 46.4% in the 1st quarter. Hodges Capital Management Inc. now owns 2,587 shares of the semiconductor manufacturer's stock valued at $266,000 after purchasing an additional 820 shares during the period. Integrity Wealth Advisors Inc. acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at about $258,000. Finally, Modern Wealth Management LLC acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at about $644,000. Institutional investors and hedge funds 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.