Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.2% – Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD) was up 2.2% during mid-day trading on Friday . The stock traded as high as $122.74 and last traded at $121.06. Approximately 14,860,954 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 38,272,938 shares. The stock had previously closed at $118.44.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMD shares. TD Cowen reduced their price target on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Finally, Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $178.61.

Advanced Micro Devices Stock Performance

The stock’s 50 day moving average price is $129.94 and its 200 day moving average price is $145.32. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $197.11 billion, a PE ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 in the last quarter. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC grew its holdings in 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 in the last quarter. ZRC Wealth Management LLC grew its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the 4th quarter worth $26,000. Retirement Wealth Solutions LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $32,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.