Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.6% on Strong Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was up 0.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $162.29 and last traded at $161.14. Approximately 17,488,087 shares traded hands during trading, a decline of 76% from the average daily volume of 71,746,867 shares. The stock had previously closed at $160.20.

The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.74% and a net margin of 4.89%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Morgan Stanley lowered their target price on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating for the company in a report on Monday. Raymond James cut Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $190.00 to $195.00 in a report on Tuesday, January 30th. Citigroup lowered their target price on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday. Finally, HSBC upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $225.00 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Activity

In related news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the sale, the director now owns 2,197 shares of the company’s stock, valued at $457,151.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the sale, the director now owns 2,197 shares of the company’s stock, valued at $457,151.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders have sold a total of 341,143 shares of company stock worth $62,580,844 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC grew its stake in shares of Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 71 shares in the last quarter. Peoples Bank KS purchased a new position in Advanced Micro Devices in the third quarter valued at $26,000. Spartan Planning & Wealth Management purchased a new position in Advanced Micro Devices in the third quarter valued at $27,000. Northwest Bank & Trust Co purchased a new position in Advanced Micro Devices in the fourth quarter valued at $28,000. Finally, Bare Financial Services Inc purchased a new position in Advanced Micro Devices in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The stock has a market capitalization of $233.16 billion, a PE ratio of 212.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66. The stock has a fifty day moving average of $176.64 and a 200-day moving average of $151.54. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03.

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.