Analysts at Sanford C. Bernstein upgraded shares of Advanced Micro Devices Inc. (NASDAQ: AMD) from Underperform to Market Perform today.With a rating of Market Perform on the stock, Advanced Micro Devices Inc. has a 52-week high of $8.00. A number of other analysts have issued reports on the stock recently, and Advanced Micro Devices Inc. has secured a consensus one-year price target of $6.04, less than the opening price of $6.23, a difference of 9.84 percent. Usually, after analysts issue an upgrade report on a stock, they will later issue other updates, such as a price target change.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) opened at $6.23 yesterday trading between $6.12 and $6.28, and last traded at $6.14, which represents a decrease of $0.02 over the previous closing price.
Advanced Micro Devices Inc. (NASDAQ: AMD) currently has a market cap of 4.88B.
The stock’s average daily volume is 36,504,300 shares out of a total float 665,094,000 and some 9,779,147 shares traded hands yesterday, 32 percent lower than the average. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to pinpoint heavy volume aggregation or dissemination by institutional investors.
However, just a day of significant buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Advanced Micro Devices Inc. (NASDAQ: AMD) now has a 50-day MA of $6.80 and 200-day MA of $4.70. It has traded in a 52-week range between $1.65 – 8.00 and today’s last price is 0.23% lower than the 52 week high of $8.00.
Earnings growth is a crucial factor to look at when buying stocks and investors look for companies that have increased their earnings by at least 25% for the past 3 years.
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