Advanced Micro Devices (NASDAQ:AMD) Trading 1.4% Higher - Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price traded up 1.4% during trading on Thursday . The company traded as high as $115.54 and last traded at $114.41. 11,269,850 shares were traded during mid-day trading, a decline of 73% from the average session volume of 42,001,315 shares. The stock had previously closed at $112.86.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research reports. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a research report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Citigroup restated a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their target price for the stock from $135.00 to $120.00 in a report on Thursday, March 27th. Finally, Loop Capital decreased their target price on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Stock Down 2.6%

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 company has a market cap of $178.47 billion, a P/E ratio of 111.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a fifty day moving average of $100.25 and a 200 day moving average of $112.70.

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. The firm 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 6.36% and a return on equity of 7.42%. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has authorized a stock buyback 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently bought and sold shares of AMD. Norges Bank purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $2,867,193,000. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 6,200,850 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings 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 buying an additional 5,915,185 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Advanced Micro Devices during the first quarter valued at $436,746,000. 71.34% of the stock is owned by 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.