Advanced Micro Devices (NASDAQ:AMD) Trading 2.4% Higher – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price rose 2.4% during trading on Thursday . The company traded as high as $149.07 and last traded at $148.52. Approximately 9,092,775 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 56,122,191 shares. The stock had previously closed at $145.10.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Truist Financial dropped their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Up 3.2 %

The firm has a market capitalization of $243.06 billion, a PE ratio of 133.80, a P/E/G ratio of 1.96 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a 50-day moving average price of $154.36 and a 200 day moving average price of $155.56.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC grew its stake in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC increased its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC raised its position in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted its holdings in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors 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.