Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.4% – Here’s Why

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 traded hands during trading, a decline of 84% from the average daily volume of 56,122,191 shares. The stock had previously closed at $145.10.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMD shares. Edward Jones began coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Barclays lowered their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird dropped their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Bank of America reaffirmed a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. One investment 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 issued 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 target price of $192.79.

Advanced Micro Devices Stock Up 3.2 %

The stock’s 50 day moving average is $154.36 and its 200 day moving average is $155.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company has a market capitalization of $243.06 billion, a PE ratio of 133.80, a PEG ratio of 1.96 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting 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 business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AMD. Aljian Capital Management LLC grew its position in Advanced Micro Devices by 119.2% in the third quarter. Aljian Capital Management LLC now owns 7,454 shares of the semiconductor manufacturer’s stock worth $1,223,000 after acquiring an additional 4,054 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,497,376 shares of the semiconductor manufacturer’s stock valued at $245,690,000 after purchasing an additional 34,320 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Advanced Micro Devices by 55.2% during the 3rd quarter. RiverPark Advisors LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 185 shares in the last quarter. Finally, Adero Partners LLC lifted its position in Advanced Micro Devices by 1.7% in the 3rd quarter. Adero Partners LLC now owns 8,952 shares of the semiconductor manufacturer’s stock worth $1,469,000 after buying an additional 153 shares during the last quarter. 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.