Advanced Micro Devices (NASDAQ:AMD) Receives “Neutral” Rating from Citigroup

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup in a research note issued to investors on Monday, June 9th, Marketbeat.com reports. They presently have a $120.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $100.00. Citigroup’s target price suggests a potential downside of 5.69% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Stifel Nicolaus set a $132.00 target price on Advanced Micro Devices in a report on Monday, April 28th. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of Advanced Micro Devices in a report on Tuesday, February 18th. Raymond James reaffirmed an “outperform” rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.61.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $11.07 during trading on Monday, reaching $127.23. The stock had a trading volume of 62,285,882 shares, compared to its average volume of 41,504,803. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a market cap of $206.30 billion, a PE ratio of 128.58, a P/E/G ratio of 1.11 and a beta of 1.99. The firm’s 50 day moving average price is $104.51 and its two-hundred day moving average price is $111.15.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $0.62 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. On average, research analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

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

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Seaview Investment Managers LLC increased its position in Advanced Micro Devices by 4.3% in the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 93 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in Advanced Micro Devices by 4.4% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 2,304 shares of the semiconductor manufacturer’s stock worth $278,000 after buying an additional 97 shares during the last quarter. L.M. Kohn & Company boosted its holdings in Advanced Micro Devices by 1.4% during the fourth quarter. L.M. Kohn & Company now owns 6,973 shares of the semiconductor manufacturer’s stock worth $842,000 after buying an additional 97 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock worth $314,000 after buying an additional 98 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in Advanced Micro Devices by 9.4% during the first quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer’s stock worth $117,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.