Advanced Micro Devices (NASDAQ:AMD) Trading 1% Higher – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 1% during trading on Wednesday . The stock traded as high as $145.17 and last traded at $143.01. 11,351,835 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 56,240,652 shares. The stock had previously closed at $141.66.

Analyst Ratings Changes

A number of brokerages have weighed in on AMD. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. TD Cowen cut their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Citigroup decreased their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp dropped their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $235.47 billion, a price-to-earnings ratio of 130.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.71. The company has a 50-day moving average of $154.36 and a 200-day moving average of $155.56. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share 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 period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in shares of Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the period. Van ECK Associates Corp boosted its position in Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Advanced Micro Devices during the second quarter valued at about $296,178,000. Institutional investors and hedge funds 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.