Melius Upgrades Advanced Micro Devices (NASDAQ:AMD) to “Buy”

Advanced Micro Devices (NASDAQ:AMD) was upgraded by equities research analysts at Melius from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports. The brokerage currently has a $175.00 price target on the semiconductor manufacturer’s stock. Melius’ target price indicates a potential upside of 26.42% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Loop Capital cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Dbs Bank lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. UBS Group lowered their price objective 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. Finally, DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Thursday, May 8th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $138.19.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $138.43 on Monday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $224.45 billion, a P/E ratio of 101.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.99. The firm has a 50-day moving average price of $109.71 and a two-hundred day moving average price of $110.79. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 8.30% and a net margin of 8.03%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. As a group, research analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.4% during 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 in the last quarter. Geode Capital Management LLC grew its position in Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after acquiring an additional 835,413 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advanced Micro Devices by 9.9% in 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 purchasing an additional 1,929,225 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.