Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 0.7% – Should You Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price rose 0.7% during trading on Wednesday . The stock traded as high as $104.65 and last traded at $104.18. Approximately 8,195,858 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 43,993,455 shares. The stock had previously closed at $103.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $175.00 to $129.00 in a research note on Friday, January 10th. KeyCorp reduced their price target on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, HSBC reissued a “reduce” rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.14.

Advanced Micro Devices Trading Down 2.5 %

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 fifty day simple moving average of $110.47 and a 200-day simple moving average of $132.17. The company has a market capitalization of $169.25 billion, a PE ratio of 106.36, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $2,867,193,000. Toronto Dominion Bank boosted its position in shares of 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 worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp increased its holdings in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. 71.34% of the stock is currently 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.