Reviewing The Case For Advanced Micro Devices Inc. (AMD) Going Higher

Currently, there are 1.62B common shares owned by the public and among those 1.61B shares have been available to trade.

The company’s stock has a 5-day price change of 5.39% and 1.32% over the past three months. AMD shares are trading 11.49% year to date (YTD), with the 12-month market performance up to 67.58% higher. It has a 12-month low price of $93.11 and touched a high of $227.30 over the same period. AMD has an average intraday trading volume of 47.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.01%, 12.30%, and 2.20% respectively.

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Institutional ownership of Advanced Micro Devices Inc. (NASDAQ: AMD) shares accounts for 69.53% of the company’s 1.62B shares outstanding.

It has a market capitalization of $266.00B and a beta (3y monthly) value of 1.69. The stock’s trailing 12-month PE ratio is 198.04, while the earnings-per-share (ttm) stands at $0.83. The company has a PEG of 6.02 and a Quick Ratio of 2.01 with the debt-to-equity ratio at 0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.72% over the week and 3.48% over the month.

Earnings per share for the fiscal year are expected to increase by 28.94%, and 60.54% over the next financial year. EPS should grow at an annualized rate of 32.90% over the next five years, compared to 10.43% over the past 5-year period.

TD Cowen coverage for the Advanced Micro Devices Inc. (AMD) stock in a research note released on August 19, 2024 offered a Buy rating with a price target of $210. TD Cowen was of a view on July 15, 2024 that the stock is Buy, while Morgan Stanley gave the stock Equal-Weight rating on June 10, 2024, issuing a price target of $176. Jefferies on their part issued Buy rating on May 13, 2024.

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