Advanced Micro Devices (NASDAQ:AMD) Trading 2% Higher - Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price rose 2% during mid-day trading on Monday . The stock traded as high as $101.60 and last traded at $100.74. Approximately 13,886,398 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 42,095,411 shares. The stock had previously closed at $98.80.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMD. Piper Sandler reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Morgan Stanley set a $137.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Mizuho cut their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Finally, Roth Capital set a $140.00 price objective on Advanced Micro Devices in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.57.

Advanced Micro Devices Trading Up 2.7 %

The business has a 50-day moving average of $97.39 and a two-hundred day moving average of $118.03. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $163.92 billion, a price-to-earnings ratio of 102.39, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Philip Guido acquired 4,645 shares of the firm's stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now owns 33,522 shares of the company's stock, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction 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 $163,607,893.70. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently modified their holdings of AMD. KLP Kapitalforvaltning AS acquired a new stake in Advanced Micro Devices in the fourth quarter worth about $65,897,000. Enzi Wealth bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $569,000. Welch Group LLC lifted its holdings in Advanced Micro Devices by 6.3% in the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock valued at $6,179,000 after buying an additional 2,981 shares during the period. Stonegate Investment Group LLC grew its holdings in Advanced Micro Devices by 39.5% during the 4th quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer's stock worth $61,896,000 after acquiring an additional 145,067 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Advanced Micro Devices by 19.8% during the 4th quarter. Nordea Investment Management AB now owns 1,748,872 shares of the semiconductor manufacturer's stock valued at $212,943,000 after acquiring an additional 289,110 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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