Advanced Micro Devices (NASDAQ:AMD) Trading 2.6% Higher - Should You Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares rose 2.6% during trading on Wednesday . The company traded as high as $144.18 and last traded at $141.99. Approximately 35,743,291 shares traded hands during trading, a decline of 15% from the average daily volume of 41,892,734 shares. The stock had previously closed at $138.43.

Analysts Set New Price Targets

AMD has been the topic of a number of recent analyst reports. Wedbush reiterated an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Barclays lifted their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Mizuho boosted their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, HSBC upgraded shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Thirteen analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $138.19.

Advanced Micro Devices Trading Up 3.6%

The firm's 50 day moving average is $109.71 and its 200 day moving average is $110.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company has a market capitalization of $232.64 billion, a PE ratio of 105.17, a P/E/G ratio of 1.67 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. 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 of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on 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 in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMD. KLP Kapitalforvaltning AS purchased a new position in Advanced Micro Devices during the fourth quarter valued at $65,897,000. Vanguard Group Inc. boosted its stake in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank grew its position in 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 purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. increased its stake in Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after buying an additional 290,784 shares during the last quarter. 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.

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