Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 3.6% – Time to Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 3.6% during trading on Monday . The company traded as high as $140.36 and last traded at $139.70. Approximately 13,133,920 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 55,420,605 shares. The stock had previously closed at $134.90.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMD. Edward Jones initiated coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. Evercore ISI boosted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial cut their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays cut their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Trading Up 4.0 %

The firm has a 50-day moving average price of $154.51 and a 200 day moving average price of $155.08. 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 $227.78 billion, a price-to-earnings ratio of 125.86, a price-to-earnings-growth ratio of 1.87 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting 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 company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. 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 $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC raised its stake in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of 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 stake 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 boosted its position in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.