Advanced Micro Devices (NASDAQ:AMD) Trading 1.1% Higher – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) shot up 1.1% on Tuesday . The stock 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 Upgrades and Downgrades

Several research firms have recently issued reports on AMD. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. Barclays decreased their price objective 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. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a market cap of $229.16 billion, a price-to-earnings ratio of 127.89, a P/E/G ratio of 1.96 and a beta of 1.71. The company has a 50 day simple moving average of $154.57 and a 200 day simple moving average of $155.67.

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

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC raised its stake in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 90.4% in the third 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 in the last quarter. Morton Brown Family Wealth LLC raised 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 buying an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the 2nd quarter worth approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted its stake in shares of Advanced Micro Devices by 926.7% during 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. 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.