Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a moderate sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other analysts also recently weighed in on the company. Barclays lifted their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Summit Insights upgraded Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Argus set a $160.00 price objective on Advanced Micro Devices in a report on Thursday, February 6th. Finally, Wall Street Zen upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.58.

Advanced Micro Devices Stock Up 0.2%

NASDAQ:AMD opened at $113.03 on Tuesday. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a market cap of $183.27 billion, a price-to-earnings ratio of 114.17, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The stock has a fifty day simple moving average of $100.34 and a 200-day simple moving average of $113.11. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results 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. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. Analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $65,897,000. Enzi Wealth acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $569,000. Welch Group LLC lifted its holdings in shares of Advanced Micro Devices by 6.3% during the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock worth $6,179,000 after purchasing an additional 2,981 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Finally, Empire Life Investments Inc. acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $717,000. 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.