Rosenblatt Securities reissued their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD – Free Report) in a research note published on Friday,Benzinga reports. The brokerage currently has a $200.00 price target on the semiconductor manufacturer’s stock.
Several other equities research analysts have also weighed in on the company. UBS Group dropped their price target on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $120.00 in a report on Thursday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. TD Cowen boosted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.13.
Advanced Micro Devices Stock Performance
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts forecast that Advanced Micro Devices will post 3.87 EPS for the current year.
Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Insider Transactions at Advanced Micro Devices
In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. 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.
Hedge Funds Weigh In On Advanced Micro Devices
Several large investors have recently made changes to their positions in AMD. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices in the fourth quarter valued at $25,000. Greenline Partners LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices in the 4th quarter worth about $29,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $31,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.
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.
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