Advanced Micro Devices (NASDAQ:AMD) Trading Up 0.3% – Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $126.64 and last traded at $125.34. Approximately 10,603,866 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 53,605,766 shares. The stock had previously closed at $125.02.

Analyst Upgrades and Downgrades

AMD has been the subject of several analyst reports. Mizuho cut their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley dropped their target price on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. TD Cowen cut their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $192.92 billion, a price-to-earnings ratio of 107.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock’s fifty day moving average is $142.98 and its two-hundred day moving average is $150.91.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last three months. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC bought a new position in Advanced Micro Devices during the 2nd quarter worth $27,000. Finally, Ridgewood Investments LLC acquired a new stake in Advanced Micro Devices in the second quarter worth $35,000. 71.34% of the stock is currently owned by institutional investors.

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.