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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 2.5% on Friday . The company 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 Analysts Forecast Growth

Several research firms have issued reports on AMD. TD Cowen upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Monday, September 16th. Edward Jones started coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. Truist Financial decreased their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Finally, Morgan Stanley upped their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. One 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Price Performance

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

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Research analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC boosted its stake in shares of 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 last quarter. ZRC Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Morton Brown Family Wealth LLC increased its position in shares of Advanced Micro Devices by 94.4% during the 2nd 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 last quarter. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the 2nd quarter worth approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted its holdings in shares of Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

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.