Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2% – Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 2% during trading on Friday . The stock traded as high as $123.77 and last traded at $122.99. 12,752,326 shares were traded during mid-day trading, a decline of 43% from the average session volume of 22,284,195 shares. The stock had previously closed at $120.63.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMD. Barclays lowered their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Mizuho cut their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. UBS Group decreased their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Finally, Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $203.45 billion, a price-to-earnings ratio of 112.95, a P/E/G ratio of 1.88 and a beta of 1.66. The business has a 50-day simple moving average of $135.46 and a two-hundred day simple moving average of $147.96. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 76,496 shares of the business’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 transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc raised its stake in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after purchasing an additional 60 shares in the last quarter. Wealth Effects LLC raised its position in Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after acquiring an additional 65 shares in the last quarter. Jacobsen Capital Management lifted its stake in Advanced Micro Devices by 2.1% in the third quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after acquiring an additional 70 shares during the last quarter. Sigma Investment Counselors Inc. grew its position in Advanced Micro Devices by 5.3% in the third quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock worth $243,000 after acquiring an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC increased its stake in shares of Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after purchasing an additional 74 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.