Advanced Micro Devices (NASDAQ:AMD) Trading Up 6.3% - What's Next?
Advanced Micro Devices (NASDAQ:AMD) saw a 6.3% increase in trading, reaching a high of $158.68 before closing at $155.51. The trading volume rose by 21% to approximately 50.5 million shares. Analysts have mixed ratings, with one sell, ten hold, twenty-three buy, and five strong buy ratings. AMD's market cap is $250.71 billion, with a P/E ratio of 113.56. The company reported a quarterly EPS of $0.96, exceeding estimates, and announced a $6 billion share repurchase plan, indicating confidence in its stock value.
Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) was up 6.3% during trading on Tuesday . The company traded as high as $158.68 and last traded at $155.51. Approximately 50,514,148 shares were traded during trading, an increase of 21% from the average daily volume of 41,787,037 shares. The stock had previously closed at $146.24.
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Wall Street Analyst Weigh In
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Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Citigroup reiterated a "hold" rating on shares of Advanced Micro Devices in a research report on Monday. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Stifel Nicolaus reiterated a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, Wedbush reaffirmed an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $147.00.
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Advanced Micro Devices Stock Up 5.7%
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The company has a market capitalization of $250.71 billion, a P/E ratio of 113.56, a PEG ratio of 1.95 and a beta of 2.05. The stock has a 50 day moving average price of $123.08 and a 200 day moving average price of $112.16. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the firm earned $0.62 EPS. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.
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Advanced Micro Devices declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC raised its holdings in shares of Advanced Micro Devices by 11.0% in the second quarter. Ballentine Partners LLC now owns 32,377 shares of the semiconductor manufacturer's stock worth $4,594,000 after buying an additional 3,204 shares during the last quarter. BCS Wealth Management purchased a new position in Advanced Micro Devices in the second quarter valued at $212,000. Charter Capital Management LLC DE purchased a new position in Advanced Micro Devices in the second quarter valued at $289,000. Norden Group LLC increased its holdings in Advanced Micro Devices by 56.0% in the second quarter. Norden Group LLC now owns 12,470 shares of the semiconductor manufacturer's stock valued at $1,769,000 after buying an additional 4,476 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in Advanced Micro Devices by 13.7% in the second quarter. Accurate Wealth Management LLC now owns 4,336 shares of the semiconductor manufacturer's stock valued at $623,000 after buying an additional 522 shares in the last quarter. Institutional investors own 71.34% of the company's stock.
Advanced Micro Devices Company Profile
(Get Free Report)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.
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