Advanced Micro Devices (NASDAQ:AMD) Shares Up 1.7% – Time to Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 1.7% during mid-day trading on Monday . The stock traded as high as $142.10 and last traded at $140.64. Approximately 10,869,008 shares changed hands during trading, a decline of 80% from the average daily volume of 54,817,469 shares. The stock had previously closed at $138.35.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMD shares. Morgan Stanley lowered 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 objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

The stock’s 50-day moving average is $153.19 and its 200 day moving average is $154.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market cap of $221.09 billion, a PE ratio of 120.38, a PEG ratio of 1.95 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during 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 business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the 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 owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. International Assets Investment Management LLC grew its position in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Van ECK Associates Corp lifted its stake in shares of Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after buying an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after buying an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Advanced Micro Devices in the second quarter worth about $296,178,000. Finally, Swedbank AB purchased a new position in shares of Advanced Micro Devices in the first quarter worth about $290,842,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.