Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.1% - Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares were up 2.1% on Wednesday . The stock traded as high as $119.88 and last traded at $118.52. Approximately 14,196,512 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 39,320,805 shares. The stock had previously closed at $116.09.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMD. UBS Group decreased their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating for the company in a report 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 for the company in a report on Friday, December 20th. Loop Capital assumed coverage on Advanced Micro Devices in a report on Tuesday. They set a "buy" rating and a $175.00 price objective on the stock. Benchmark reissued a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their price target 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.68.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $194.67 billion, a P/E ratio of 108.07, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company's 50-day simple moving average is $131.60 and its 200-day simple moving average is $145.95.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting 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 in the prior year, the firm earned $0.53 EPS. Advanced Micro Devices's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company's stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last three months. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently made changes to their positions in the company. State Street Corp grew its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer's stock valued at $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Fisher Asset Management LLC increased its position in Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer's stock worth $3,904,323,000 after acquiring an additional 644,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Advanced Micro Devices by 8.7% during 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 worth $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc raised its stake in Advanced Micro Devices by 1.4% in 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 purchasing an additional 188,580 shares in the last quarter. 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.