Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.3% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.3% during trading on Friday . The stock traded as high as $169.09 and last traded at $166.60. 14,340,107 shares changed hands during trading, a decline of 75% from the average session volume of 58,253,918 shares. The stock had previously closed at $162.85.

Analyst Ratings Changes

Several brokerages have commented on AMD. Truist Financial cut their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Barclays cut their target price on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

The business has a 50 day moving average price of $147.54 and a two-hundred day moving average price of $158.21. The stock has a market cap of $272.41 billion, a PE ratio of 245.00, a P/E/G ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

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 return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after acquiring an additional 2,349,288 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 28,338,223 shares of the semiconductor manufacturer’s stock worth $4,177,338,000 after purchasing an additional 570,035 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the period. Wellington Management Group LLP increased its holdings in shares of Advanced Micro Devices by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 19,218,241 shares of the semiconductor manufacturer’s stock worth $2,832,961,000 after purchasing an additional 478,718 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 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.