Advanced Micro Devices (NASDAQ:AMD) Shares Up 4.1% - Time to Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price was up 4.1% on Tuesday . The stock traded as high as $115.17 and last traded at $114.80. Approximately 12,457,616 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 42,180,325 shares. The stock had previously closed at $110.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Wells Fargo & Company cut their target price on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a research note on Thursday, February 6th. Finally, Melius Research set a $110.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus target price of $132.58.

Advanced Micro Devices Stock Down 0.4%

The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $185.03 billion, a price-to-earnings ratio of 115.13, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The firm's fifty day simple moving average is $100.23 and its two-hundred day simple moving average is $113.35.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the firm posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC grew its holdings in shares of Advanced Micro Devices by 38.5% during the first quarter. Jacobi Capital Management LLC now owns 8,981 shares of the semiconductor manufacturer's stock worth $923,000 after purchasing an additional 2,498 shares during the last quarter. Advisors Capital Management LLC grew its holdings in shares of Advanced Micro Devices by 5.7% during the first quarter. Advisors Capital Management LLC now owns 53,503 shares of the semiconductor manufacturer's stock worth $5,497,000 after purchasing an additional 2,907 shares during the last quarter. Rollins Financial Advisors LLC purchased a new position in shares of Advanced Micro Devices during the first quarter worth about $223,000. McAdam LLC grew its holdings in shares of Advanced Micro Devices by 7.5% during the first quarter. McAdam LLC now owns 3,454 shares of the semiconductor manufacturer's stock worth $355,000 after purchasing an additional 242 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Advanced Micro Devices by 26.9% during the first quarter. Acadian Asset Management LLC now owns 81,864 shares of the semiconductor manufacturer's stock worth $8,406,000 after purchasing an additional 17,347 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.