Advanced Micro Devices (NASDAQ:AMD) Trading 1.7% Higher - Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares shot up 1.7% on Wednesday . The stock traded as high as $115.37 and last traded at $115.46. 12,960,293 shares were traded during trading, a decline of 70% from the average session volume of 42,494,621 shares. The stock had previously closed at $113.51.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMD. Benchmark reissued a "buy" rating and issued a $170.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Finally, DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $132.58.

Advanced Micro Devices Stock Performance

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 company has a market capitalization of $187.01 billion, a P/E ratio of 116.88, a PEG ratio of 1.11 and a beta of 1.97. The stock's fifty day moving average price is $99.52 and its 200-day moving average price is $114.51.

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

Advanced Micro Devices declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership 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 transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Norges Bank purchased a new position in Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Goldman Sachs Group Inc. lifted its holdings in Advanced Micro Devices by 169.7% during 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 purchasing an additional 6,200,850 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position 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 worth $1,069,846,000 after purchasing an additional 5,915,185 shares during the period. Toronto Dominion Bank lifted its stake in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after buying an additional 4,461,609 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter valued at $436,746,000. 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.

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