Advanced Micro Devices (NASDAQ:AMD) Trading 2.1% Higher – Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as $99.99 and last traded at $98.81. 8,883,230 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 39,182,270 shares. The stock had previously closed at $96.76.

Analyst Ratings Changes

Several brokerages recently issued reports on AMD. Susquehanna cut their target price on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research note on Wednesday, February 5th. Melius downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Stifel Nicolaus cut their price objective on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, Piper Sandler restated an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.83.

Advanced Micro Devices Trading Up 4.9 %

The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $113.39 and its 200 day moving average price is $134.17. The company has a market capitalization of $164.47 billion, a P/E ratio of 102.47, a P/E/G ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the purchase, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This represents a 16.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently modified their holdings of AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at approximately $2,867,193,000. Toronto Dominion Bank lifted its stake in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after buying an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after purchasing an additional 2,889,739 shares in the last quarter. Northern Trust Corp lifted its stake in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.