Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.1% – Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 1.1% during trading on Wednesday . The stock traded as high as $218.20 and last traded at $217.60. 28,390,958 shares changed hands during trading, a decline of 43% from the average session volume of 49,961,113 shares. The stock had previously closed at $215.24.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Micro Devices in a research report on Tuesday, November 25th. The Goldman Sachs Group upped their price objective on Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Wedbush reissued an “outperform” rating and set a $290.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Mizuho raised their target price on Advanced Micro Devices from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Finally, KGI Securities set a $260.00 target price on Advanced Micro Devices and gave the company an “outperform” rating in a research report on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $278.54.

Advanced Micro Devices Price Performance

The firm’s fifty day moving average price is $222.22 and its 200 day moving average price is $174.06. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04. The stock has a market cap of $354.26 billion, a PE ratio of 107.72, a P/E/G ratio of 1.63 and a beta of 1.93.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. Advanced Micro Devices’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the sale, the executive vice president directly owned 300,348 shares in the company, valued at approximately $68,890,820.76. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $240.12, for a total value of $4,107,972.96. Following the completion of the sale, the executive vice president directly owned 1,714,505 shares in the company, valued at approximately $411,686,940.60. The trade was a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 75,676 shares of company stock valued at $16,124,589. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Advanced Micro Devices during the 2nd quarter valued at about $3,094,662,000. Kingstone Capital Partners Texas LLC bought a new position in Advanced Micro Devices in the 2nd quarter worth about $958,422,000. Goldman Sachs Group Inc. increased its position in shares of Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock worth $1,012,538,000 after acquiring an additional 6,200,850 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Advanced Micro Devices by 131.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock valued at $1,069,846,000 after acquiring an additional 5,915,185 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $436,746,000. 71.34% of the stock is currently owned by hedge funds and other 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.