Advanced Micro Devices (NASDAQ:AMD) Trading Up 1.3% – Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 1.3% on Tuesday . The company traded as high as $163.26 and last traded at $162.06. Approximately 13,633,531 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 56,434,574 shares. The stock had previously closed at $159.92.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMD shares. Robert W. Baird decreased their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. UBS Group decreased their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday. Citigroup decreased their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI lifted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

The firm has a market cap of $240.18 billion, a PE ratio of 218.53, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The stock has a 50-day moving average price of $155.17 and a 200 day moving average price of $156.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in the company. Cherrydale Wealth Management LLC grew its position in Advanced Micro Devices by 4.7% during the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after acquiring an additional 58 shares during the period. Christopher J. Hasenberg Inc grew its position in Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after acquiring an additional 60 shares during the period. Delta Financial Group Inc. grew its position in Advanced Micro Devices by 5.0% during the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after acquiring an additional 63 shares during the period. Trivant Custom Portfolio Group LLC grew its position in Advanced Micro Devices by 0.3% during the second quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after acquiring an additional 65 shares during the period. Finally, Wealth Effects LLC grew its position in Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.