Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.8% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 0.8% during mid-day trading on Thursday . The company traded as high as $160.44 and last traded at $157.37. 11,701,978 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 57,532,863 shares. The stock had previously closed at $156.13.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMD. 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 report on Wednesday, July 31st. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price objective on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Piper Sandler boosted their target price on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Citigroup raised their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Advanced Micro Devices Price Performance

The company’s fifty day moving average price is $153.86 and its two-hundred day moving average price is $156.94. 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 company has a market cap of $252.10 billion, a price-to-earnings ratio of 229.37, a PEG ratio of 2.33 and a beta of 1.70.

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

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted 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 buying an additional 2,979,204 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 worth $26,133,989,000 after acquiring an additional 2,349,288 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Advanced Micro Devices during the second quarter valued at approximately $296,178,000. Swedbank AB bought a new position in Advanced Micro Devices in the first quarter valued at approximately $290,842,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Advanced Micro Devices by 29.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,923,710 shares of the semiconductor manufacturer’s stock worth $960,885,000 after purchasing an additional 1,331,165 shares during the last quarter. Institutional investors and hedge funds 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.