Advanced Micro Devices (NASDAQ:AMD) Shares Up 2.2% - Should You Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price traded up 2.2% during trading on Thursday . The company traded as high as $162.35 and last traded at $162.10. 17,632,445 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 43,223,570 shares. The stock had previously closed at $158.65.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Sanford C. Bernstein boosted their price objective on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research report on Monday. Mizuho boosted their price objective on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Rosenblatt Securities restated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Stock Up 1.9%

The company's 50-day moving average is $131.25 and its 200 day moving average is $114.24. The company has a market capitalization of $267.97 billion, a PE ratio of 121.52, a P/E/G ratio of 2.10 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the firm posted $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors have recently modified their holdings of AMD. Dogwood Wealth Management LLC boosted its holdings in shares of 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 valued at $30,000 after acquiring an additional 208 shares during the last quarter. West Branch Capital LLC boosted its holdings in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 214 shares during the last quarter. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $28,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.