Benchmark Reiterates “Buy” Rating for Advanced Micro Devices (NASDAQ:AMD)

Benchmark reissued their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note released on Friday morning,Benzinga reports. They currently have a $170.00 price objective on the semiconductor manufacturer’s stock.

Other analysts have also recently issued research reports about the company. Barclays increased 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. Piper Sandler restated an “overweight” rating and issued a $125.00 price target (down from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Susquehanna dropped their target price on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, April 24th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. 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

Shares of NASDAQ AMD opened at $116.16 on Friday. The stock has a market cap of $188.34 billion, a PE ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $187.28. The firm has a fifty day moving average price of $104.51 and a 200-day moving average price of $111.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83.

Advanced Micro Devices (NASDAQ:AMD) last issued 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 net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has authorized a share buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other 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 transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $25,000. Greenline Partners LLC purchased a new position in Advanced Micro Devices during the 4th quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. American Capital Advisory LLC raised its stake in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth about $29,000. 71.34% of the stock is currently owned by institutional investors.

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.