Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 6.3% - Still a Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) rose 6.3% during mid-day trading on Tuesday . The company traded as high as $158.68 and last traded at $155.51. Approximately 50,514,148 shares were traded during trading, an increase of 21% from the average daily volume of 41,787,037 shares. The stock had previously closed at $146.24.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Loop Capital decreased their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. 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. TD Cowen increased their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wedbush reissued an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.74.

Advanced Micro Devices Stock Down 0.8%

The firm's 50-day simple moving average is $124.22 and its 200 day simple moving average is $112.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a market capitalization of $250.20 billion, a P/E ratio of 113.46, a PEG ratio of 1.95 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a stock repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMD. Brighton Jones LLC grew its stake in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after buying an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Advanced Micro Devices by 36.9% in the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock valued at $589,000 after buying an additional 1,315 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at about $7,089,000. 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.