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

Advanced Micro Devices, Inc. (NASDAQ:AMD) 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 mid-day trading, a decline of 43% from the average session volume of 49,961,113 shares. The stock had previously closed at $215.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wolfe Research set a $300.00 target price on shares of Advanced Micro Devices and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Mizuho increased their price objective on shares of Advanced Micro Devices from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. UBS Group raised their price objective on shares of Advanced Micro Devices from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. TD Cowen upped their target price on Advanced Micro Devices from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.54.

Advanced Micro Devices Stock Up 0.9%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31. The stock has a market cap of $354.86 billion, a P/E ratio of 107.91, a price-to-earnings-growth ratio of 1.60 and a beta of 1.93. The company’s fifty day moving average price is $224.44 and its 200-day moving average price is $174.65.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The company had revenue of $9.25 billion for the quarter, compared to analysts’ expectations of $8.76 billion. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.Advanced Micro Devices’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 300,348 shares of the company’s stock, valued at approximately $68,890,820.76. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the transaction, the executive vice president directly owned 1,714,505 shares in the company, valued at $411,686,940.60. This trade represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 75,676 shares of company stock worth $16,124,589 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC boosted its holdings in shares of Advanced Micro Devices by 39.7% in the third quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. Koesten Hirschmann & Crabtree INC. lifted its position in Advanced Micro Devices by 61.0% in the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Pinney & Scofield Inc. boosted its holdings in Advanced Micro Devices by 81.0% in the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares in the last quarter. Dogwood Wealth Management LLC increased its position in Advanced Micro Devices by 2,311.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the period. Finally, Avion Wealth increased its position in Advanced Micro Devices by 49.3% during the 2nd quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors 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.