Advanced Micro Devices (NASDAQ:AMD) Trading 2% Higher – Should You Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 2% during mid-day trading on Tuesday . The stock traded as high as $142.35 and last traded at $141.13. 30,923,110 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 54,904,734 shares. The stock had previously closed at $138.35.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price objective on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

The stock has a 50 day moving average of $152.94 and a 200-day moving average of $154.28. The company has a market cap of $221.09 billion, a PE ratio of 122.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently modified their holdings of AMD. State Street Corp boosted its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after buying an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.