Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.4% - Here's Why

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price was up 0.4% on Friday . The stock 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMD shares. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 11th. TD Cowen raised Advanced Micro Devices to a "strong-buy" rating in a research note on Monday, September 16th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 7th. Finally, Citigroup increased their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a "buy" rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $195.00.

Advanced Micro Devices Trading Down 0.2 %

The stock has a fifty day simple moving average of $153.43 and a 200 day simple moving average of $157.13. The firm has a market capitalization of $252.10 billion, a P/E ratio of 231.18, a PEG ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm's revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Key Client Fiduciary Advisors LLC grew its holdings in shares of Advanced Micro Devices by 2.2% in the third quarter. Key Client Fiduciary Advisors LLC now owns 6,850 shares of the semiconductor manufacturer's stock valued at $1,124,000 after purchasing an additional 150 shares in the last quarter. Harfst & Associates Inc. lifted its position in Advanced Micro Devices by 2.2% during the third quarter. Harfst & Associates Inc. now owns 17,712 shares of the semiconductor manufacturer's stock valued at $2,906,000 after purchasing an additional 386 shares during the last quarter. Clarity Wealth Advisors LLC purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth $343,000. Legacy Financial Strategies LLC increased its holdings in shares of Advanced Micro Devices by 60.3% in the 3rd quarter. Legacy Financial Strategies LLC now owns 4,407 shares of the semiconductor manufacturer's stock worth $723,000 after buying an additional 1,658 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of Advanced Micro Devices by 1.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 49,641 shares of the semiconductor manufacturer's stock valued at $8,145,000 after buying an additional 909 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.