Advanced Micro Devices (NASDAQ:AMD) Trading 3% Higher - Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares shot up 3% during mid-day trading on Tuesday . The company traded as high as $111.44 and last traded at $111.36. 16,825,339 shares were traded during trading, a decline of 58% from the average session volume of 40,310,988 shares. The stock had previously closed at $108.12.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Mizuho lowered their target price on Advanced Micro Devices from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Melius lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their price target for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Finally, Roth Capital set a $140.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $132.10.

Advanced Micro Devices Trading Up 1.9%

The firm has a market cap of $189.98 billion, a price-to-earnings ratio of 118.35, a PEG ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business has a fifty day moving average of $98.94 and a two-hundred day moving average of $115.15.

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

Advanced Micro Devices announced that its board has initiated a share buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock worth $15,654,222,000 after purchasing an additional 2,157,199 shares during the period. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the period. Fisher Asset Management LLC raised its position in shares of Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the period. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

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.