Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Melius Research

Advanced Micro Devices (NASDAQ:AMD) was upgraded by research analysts at Melius Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a $175.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $110.00. Melius Research’s price target would indicate a potential upside of 26.42% from the stock’s current price.

A number of other brokerages also recently issued reports on AMD. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. UBS Group decreased their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Susquehanna reduced their price target 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. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Thirteen analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.19.

Advanced Micro Devices Stock Up 6.8%

Shares of NASDAQ:AMD opened at $138.43 on Monday. The business’s 50-day moving average is $109.71 and its 200-day moving average is $110.79. The company has a market capitalization of $224.45 billion, a price-to-earnings ratio of 101.79, a P/E/G ratio of 1.67 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board 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 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Advanced Micro Devices by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock worth $15,654,222,000 after purchasing an additional 2,157,199 shares during the period. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after buying an additional 835,413 shares during the period. Fisher Asset Management LLC lifted its holdings in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after buying an additional 290,784 shares during the period. Norges Bank bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares in the last quarter. 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.