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

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

Wall Street Analyst Weigh In

AMD has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Barclays lowered their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. UBS Group reduced their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Susquehanna restated a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, TD Cowen decreased 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Up 2.0 %

The company has a market capitalization of $229.03 billion, a PE ratio of 127.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.71. The firm’s 50-day simple moving average is $153.45 and its 200 day simple moving average is $154.51. 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 issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

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

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Advanced Micro Devices by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the period. Swiss National Bank lifted its stake in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares during the period. Harvest Portfolios Group Inc. lifted its stake in shares of Advanced Micro Devices by 4.4% during the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after acquiring an additional 6,168 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after acquiring an additional 588,595 shares during the period. Finally, Vectors Research Management LLC acquired a new position in shares of Advanced Micro Devices during the third quarter valued at $1,394,000. Institutional investors and hedge funds 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.