Advanced Micro Devices (NASDAQ:AMD) rises 0.2% after analyst rating upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) shares rose 0.2% in afternoon trading Monday after Citigroup raised its price target on the stock from $176.00 to $210.00. Citigroup currently has a Buy rating on the stock. Advanced Micro Devices traded as high as $185.50 and was last seen at $181.90. About 11,857,886 shares were traded in trading, a drop of 82% from its average daily volume of 64,118,188 shares. The stock had previously closed at $181.61.

Several other research firms also issued reports on AMD. Wedbush reiterated an “outperform” rating and gave a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1. Truist Financial lowered their price target on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1. StockNews.com lowered shares of Advanced Micro Devices from a “hold” to a “sell” rating in a research report on Saturday, June 15. Benchmark lowered their price target on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 2. Finally, Jefferies Financial Group took over coverage on Advanced Micro Devices in a report on Monday, May 13. They set a “buy” rating and a $190.00 price target for the company. One research analyst has rated the stock a Sell, three have rated it a Hold, and twenty-seven have assigned a Buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.47, based on data from MarketBeat.

Read our latest AMD research report

Buying and selling confidential information

In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14. The shares were sold at an average price of $158.94, for a total of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Corporate insiders own 0.73% of the company’s stock.

Institutional inflows and outflows

Institutional investors and hedge funds have been buying and selling stocks recently. Cherrydale Wealth Management LLC increased its holdings in Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor maker’s stock worth $212,000 after purchasing an additional 58 shares in the last quarter. Addison Advisors LLC increased its holdings in Advanced Micro Devices by 41.9% in the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor maker’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Prentice Wealth Management LLC increased its holdings in Advanced Micro Devices by 1.6% in the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor maker’s stock worth $711,000 after purchasing an additional 62 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor maker’s stock worth $1,314,000 after purchasing an additional 63 shares in the last quarter. Finally, Delta Financial Group Inc. increased its holdings in Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor maker’s stock worth $215,000 after purchasing an additional 63 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices shares down 1.0%

The company has a market capitalization of $290.66 billion, a P/E ratio of 264.46, a P/E/G ratio of 2.10, and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.92, and a quick ratio of 2.64. The company’s 50 day moving average price is $163.63 and its 200 day moving average price is $167.75.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its earnings results on Tuesday, April 30. The semiconductor maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices reported a return on equity of 5.72% and a net margin of 4.89%. The company’s revenue increased 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. Equity research analysts expect Advanced Micro Devices, Inc. to report earnings per share of $2.61 for the current fiscal year.

About Advanced Micro Devices

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Advanced Micro Devices, Inc. operates as a global semiconductor company. 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, as well as semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technologies, data processing units, field programmable gate arrays (FPGAs), and adaptive SoC products.

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