Advanced Micro Devices (NASDAQ:AMD) Trading 0.4% Higher – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 0.4% during mid-day trading on Friday . The company traded as high as $157.53 and last traded at $156.85. Approximately 7,192,266 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 57,371,719 shares. The stock had previously closed at $156.25.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMD shares. KeyCorp reduced their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird lowered their price objective on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Edward Jones started coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. One investment 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Advanced Micro Devices Stock Down 0.2 %

The firm has a market cap of $252.10 billion, a P/E ratio of 229.37, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $153.86 and a 200-day moving average price of $156.79.

Advanced Micro Devices (NASDAQ:AMD) last posted 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 company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Advanced Micro Devices’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Advanced Micro Devices by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after buying an additional 116,020 shares during the last quarter. Chapin Davis Inc. increased its holdings in shares of Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after purchasing an additional 10,544 shares during the period. Wesbanco Bank Inc. raised its stake in shares of Advanced Micro Devices by 15.7% in the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock worth $25,524,000 after purchasing an additional 21,132 shares during the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new stake in Advanced Micro Devices in the third quarter valued at approximately $2,394,000. Finally, Sycomore Asset Management increased its stake in shares of Advanced Micro Devices by 28.6% in the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after acquiring an additional 30,677 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.