Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.1% – What’s Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 1.1% during trading on Tuesday . The company traded as high as $143.08 and last traded at $142.19. 7,555,446 shares changed hands during trading, a decline of 87% from the average session volume of 56,359,238 shares. The stock had previously closed at $140.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. UBS Group decreased their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Trading Up 2.4 %

The firm has a market cap of $235.47 billion, a P/E ratio of 130.72, a P/E/G ratio of 1.96 and a beta of 1.71. The business’s 50-day moving average is $154.36 and its two-hundred day moving average is $155.56. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Duality Advisers LP bought a new position in Advanced Micro Devices in the 1st quarter valued at about $4,545,000. Empirical Finance LLC lifted its stake in shares of Advanced Micro Devices by 3.5% in the 1st quarter. Empirical Finance LLC now owns 58,309 shares of the semiconductor manufacturer’s stock worth $10,524,000 after acquiring an additional 1,995 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Advanced Micro Devices by 19.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 68,990 shares of the semiconductor manufacturer’s stock valued at $12,452,000 after acquiring an additional 11,368 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $331,000. Finally, Stokes Family Office LLC raised its holdings in Advanced Micro Devices by 18.6% during the first quarter. Stokes Family Office LLC now owns 4,400 shares of the semiconductor manufacturer’s stock worth $794,000 after purchasing an additional 690 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.