Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.9% – Time to Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 0.9% during trading on Tuesday . The company traded as high as $123.46 and last traded at $122.60. Approximately 9,774,739 shares changed hands during trading, a decline of 74% from the average daily volume of 37,696,695 shares. The stock had previously closed at $121.46.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HSBC reissued a “reduce” rating and issued a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wolfe Research cut shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. Mizuho reduced their price objective on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.71.

Advanced Micro Devices Stock Performance

The business’s 50-day moving average price is $129.42 and its 200-day moving average price is $144.76. The stock has a market cap of $199.53 billion, a PE ratio of 110.80, a P/E/G ratio of 1.07 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 in the last three months. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Advanced Micro Devices by 89.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,068 shares of the semiconductor manufacturer’s stock valued at $336,000 after acquiring an additional 974 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Advanced Micro Devices by 21.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 166,063 shares of the semiconductor manufacturer’s stock valued at $26,937,000 after acquiring an additional 28,961 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter valued at about $111,000. EverSource Wealth Advisors LLC boosted its position in shares of Advanced Micro Devices by 7.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,332 shares of the semiconductor manufacturer’s stock valued at $1,514,000 after acquiring an additional 666 shares during the last quarter. Finally, Edge Capital Group LLC boosted its position in shares of Advanced Micro Devices by 5.3% during the 2nd quarter. Edge Capital Group LLC now owns 6,159 shares of the semiconductor manufacturer’s stock valued at $999,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

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.