Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.5% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was up 2.5% during trading on Friday . The stock traded as high as $158.91 and last traded at $157.27. Approximately 12,490,813 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 56,648,754 shares. The stock had previously closed at $153.44.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMD shares. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Citigroup boosted their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Robert W. Baird decreased 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 note on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Stock Performance

The firm has a market cap of $255.43 billion, a PE ratio of 231.75, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $154.79 and a two-hundred day simple moving average of $156.43.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC increased its holdings in Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares during the period. 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 valued at $28,000 after acquiring an additional 139 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 75 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices in the second quarter worth about $27,000. Finally, Valued Wealth Advisors LLC grew its holdings in Advanced Micro Devices by 70.7% during the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 70 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

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.