Advanced Micro Devices (NASDAQ:AMD) Trading 3% Higher - Should You Buy?

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

Analysts Set New Price Targets

Several analysts have recently weighed in on AMD shares. Wedbush reissued an "outperform" rating and issued a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday. Sanford C. Bernstein reduced their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. TD Cowen boosted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI lowered their price target on shares of Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $131.45.

Advanced Micro Devices Stock Performance

The firm has a market cap of $187.01 billion, a P/E ratio of 116.41, a PEG ratio of 1.11 and a beta of 1.97. The stock's 50 day moving average is $98.16 and its two-hundred day moving average is $115.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83.

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, beating the consensus estimate 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 business had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Advanced Micro Devices's revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Breakwater Capital Group lifted its position in shares of Advanced Micro Devices by 5.2% during the 4th quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer's stock valued at $213,000 after acquiring an additional 88 shares during the period. Pacifica Partners Inc. boosted its position in Advanced Micro Devices by 18.9% during the fourth quarter. Pacifica Partners Inc. now owns 29,769 shares of the semiconductor manufacturer's stock worth $3,591,000 after purchasing an additional 4,729 shares during the period. Pines Wealth Management LLC bought a new position in Advanced Micro Devices during the fourth quarter worth about $561,000. Floyd Financial Group LLC bought a new position in Advanced Micro Devices during the fourth quarter worth about $433,000. Finally, Oak Thistle LLC bought a new position in Advanced Micro Devices during the fourth quarter worth about $1,936,000. 71.34% of the stock is owned by institutional investors.

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.