Why AMD's Stock Is Trading Higher Today

Advanced Micro Devices AMD shares are trading higher on Tuesday after Piper Sandler maintained an Overweight rating on the stock and raised its price target from $82 to $100.

Advanced Micro Devices designs and produces microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the computer market via CPUs and GPUs.

AMD acquired graphics processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain. In 2009, the firm spun out its manufacturing operations to form a foundry joint venture, GlobalFoundries.

AMD shares were trading up 2.57% at $85.22 on Tuesday during the time of publication. The stock has a 52-week high of $87.29 and a 52-week low of $27.43.