Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $140.00

Advanced Micro Devices (NASDAQ:AMDFree Report) had its target price increased by Piper Sandler from $125.00 to $140.00 in a report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued reports about the company. Citigroup reiterated a “neutral” rating and set a $120.00 price target (up from $100.00) on shares of Advanced Micro Devices in a research report on Monday, June 9th. Dbs Bank lowered Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Susquehanna lowered their price target on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Fifteen research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.61.

Check Out Our Latest Stock Report on Advanced Micro Devices

Advanced Micro Devices Trading Up 8.8%

Shares of NASDAQ:AMD opened at $126.39 on Monday. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $187.28. The stock has a market cap of $204.93 billion, a price-to-earnings ratio of 127.67, a PEG ratio of 1.11 and a beta of 1.99. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $105.48 and a 200-day moving average price of $111.08.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Equities analysts predict that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a stock 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following 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. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted 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 worth $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC lifted its position in Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $29,000. 71.34% of the stock is owned by institutional investors and hedge funds.

About Advanced Micro Devices

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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.

Further Reading

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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