Advanced Micro Devices (NASDAQ:AMD) Trading 2.5% Higher – Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.5% during mid-day trading on Monday . The stock traded as high as $122.74 and last traded at $121.46. 35,556,654 shares were traded during mid-day trading, an increase of 2% from the average session volume of 34,940,360 shares. The stock had previously closed at $118.44.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. HSBC restated a “reduce” rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Morgan Stanley dropped their target price on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.61.

Advanced Micro Devices Price Performance

The firm has a market capitalization of $197.11 billion, a P/E ratio of 109.42, a PEG ratio of 1.03 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $129.94 and its 200 day simple moving average is $145.06.

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 analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,036 shares of company stock valued at $28,165,821. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Capital Management Investments LLC grew its holdings in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC grew its stake in Advanced Micro Devices by 90.4% in the third 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 period. Global Wealth Strategies & Associates purchased a new position in Advanced Micro Devices during the fourth quarter valued at $26,000. Retirement Wealth Solutions LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $32,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 111 shares during the period. 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.