Let me give you the lowdown on what’s going on with AMD and how I'm playing it.

Current Play:

So, AMD's been moving—up 0.8% on Friday, to be exact. It hit a high of $169.45 and settled at $168.16. But here’s the kicker: only 14.5 million shares traded hands, way below the usual 66.8 million. That’s a 78% drop in volume! Something’s brewing.

Analyst Chatter:

The street’s buzzing. Here’s the breakdown:

• Citigroup: Slashed their target from $192 to $176, still says “buy.”
• Morgan Stanley: Cut theirs from $193 to $177, also keeps an “overweight” rating.
• KeyCorp: Dropped from $270 to $230, sticking with “overweight.”
• DZ Bank: Upped to a “buy” with a $190 target.
• Wedbush: Stays “outperform” with a $200 target.

Overall, it’s a solid “Moderate Buy” from 28 out of 31 analysts, with an average target of $185.26. They’re mostly bullish, with a couple of cautious voices in the mix.

Financial Pulse:

Earnings came in at $0.62 per share, just a hair above the consensus of $0.61. Revenue’s at $5.47 billion, a tiny miss against the $5.48 billion estimate but up 2.2% year-over-year. Not earth-shattering, but steady.

Key ratios to watch:

• Debt-to-equity: 0.03.
• Quick ratio: 1.92.
• Current ratio: 2.64. Market cap sits at $271.33 billion, with a P/E ratio of 246.87. The PEG ratio is 1.92, and it’s got a beta of 1.69, so it’s got some juice in a volatile market.

Insider Moves:

Now, insiders are moving. CEO Lisa Su unloaded 125,000 shares for about $24.4 million, and EVP Mark Papermaster sold 16,200 shares for around $2.7 million. Total insider sales in the past three months hit about $30.1 million. They still hold 0.73% of the stock. Could be normal cashing out, but always worth noting.

Institutional Maneuvers:

Big players are piling in:

• Norges Bank: Dropped $3.4 billion into AMD.
• DZ BANK AG: Boosted their stake by over 800%.
• International Assets Investment Management LLC and Capital World Investors: Both made hefty buys, each around half a billion.
• Price T Rowe Associates Inc.: Upped their game, now holding $4.08 billion worth.

My Strategy:

Technical Setup:

• 50-Day Moving Average: $161.33.
• 200-Day Moving Average: $161.36. Key levels to watch: the previous close at $166.78 and the moving averages.

Entry Points:

• Short-Term: I’m eyeing a dip around $165. That’s close to the 50-day moving average and looks like a sweet spot for a bounce.
• Long-Term: If it slides to the 200-day moving average ($161.36) or even below, it’s time to load up.

Exit Strategy:

• Short-Term Gains: I’m looking to cash out around $176 to $177, right in line with Citigroup and Morgan Stanley’s targets. Quick win.
• Long-Term Hold: Eyeing around $200, where Wedbush’s target lies. That’s a juicy exit if it runs up there.

Market Conditions:

Keep an ear to the ground for earnings and industry news. The semiconductor space can flip on a dime with supply chain issues or new tech breakthroughs.

The Bottom Line:

AMD’s got some strong fundamentals and analyst support, despite some recent target cuts. It’s a play worth considering, with a potential sweet spot for entry at $165 and a target exit anywhere between $176 and $200. Stay sharp, and let’s see how this ride goes!

Cheers to smart trading! 🥂