Advanced Micro Devices (NASDAQ:AMD) Trading 1% Higher – Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price rose 1% during trading on Thursday . The company traded as high as $123.14 and last traded at $121.98. Approximately 11,569,661 shares traded hands during trading, a decline of 78% from the average daily volume of 53,218,793 shares. The stock had previously closed at $120.79.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Morgan Stanley lowered their price target 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. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $191.96.

Advanced Micro Devices Stock Performance

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 company has a market cap of $194.35 billion, a price-to-earnings ratio of 107.89, a P/E/G ratio of 1.88 and a beta of 1.66. The stock has a 50 day moving average price of $136.73 and a two-hundred day moving average price of $148.38.

Advanced Micro Devices (NASDAQ:AMD) last released 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 firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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 approximately $41,558,469.49. The trade was 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 90 days. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. Fisher Asset Management LLC grew its position in Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after purchasing an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares in the last quarter. 71.34% of the stock is owned by 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.