Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.1% - Should You Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price traded down 1.1% during mid-day trading on Friday . The company traded as low as $107.67 and last traded at $109.52. 11,503,767 shares traded hands during trading, a decline of 73% from the average session volume of 42,466,308 shares. The stock had previously closed at $110.71.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. UBS Group dropped their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Sanford C. Bernstein dropped their target price on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Trading Up 3.9%

The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $100.08 and a two-hundred day moving average price of $113.34. The stock has a market cap of $185.75 billion, a P/E ratio of 115.72, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the company earned $0.62 EPS. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth $2,867,193,000. Goldman Sachs Group Inc. raised its holdings in shares of Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock valued at $1,012,538,000 after acquiring an additional 6,200,850 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Advanced Micro Devices by 131.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer's stock valued at $1,069,846,000 after acquiring an additional 5,915,185 shares in the last quarter. Toronto Dominion Bank lifted its stake in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the period. Finally, Nuveen LLC bought a new position in Advanced Micro Devices during the 1st quarter worth about $436,746,000. 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.