Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.1% – Here’s What Happened

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

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group cut their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target 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. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Truist Financial lowered their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, Susquehanna reaffirmed a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Trading Up 2.4 %

The company has a market cap of $235.47 billion, a price-to-earnings ratio of 130.72, a PEG 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 business’s 50-day simple moving average is $154.36 and its 200-day simple moving average is $155.56.

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

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Legal & General Group Plc boosted its stake in Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the last quarter. Van ECK Associates Corp grew its holdings in Advanced Micro Devices by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after buying an additional 975,220 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Advanced Micro Devices by 5.0% during the 1st quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after acquiring an additional 382,582 shares during the period. Institutional investors and hedge funds 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.