Advanced Micro Devices (NASDAQ:AMD) Trading Up 5.2% After Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded up 5.2% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $120.00 to $130.00. Bank of America currently has a buy rating on the stock. Advanced Micro Devices traded as high as $122.52 and last traded at $118.28. 42,349,431 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 42,704,045 shares. The stock had previously closed at $112.46.

A number of other analysts also recently weighed in on AMD. Morgan Stanley decreased their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Citigroup reiterated a "buy" rating on shares of Advanced Micro Devices in a research report on Wednesday, April 16th. Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, February 6th. Finally, Loop Capital decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.45.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices during the fourth quarter valued at $25,000. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of Advanced Micro Devices by 90.3% during the 1st 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 bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $29,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Trading Up 4.9%

The firm has a market capitalization of $191.23 billion, a P/E ratio of 119.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $97.81 and its 200-day simple moving average is $115.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $0.62 EPS. The firm's revenue was up 35.9% compared to the same quarter last year. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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.

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