Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 3% After Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 3% on Tuesday after Citigroup raised their price target on the stock from $120.00 to $145.00. Citigroup currently has a neutral rating on the stock. Advanced Micro Devices traded as high as $138.72 and last traded at $138.88. Approximately 13,458,783 shares changed hands during trading, a decline of 68% from the average daily volume of 41,932,433 shares. The stock had previously closed at $134.80.

Several other equities analysts have also recently commented on the stock. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $110.00 to $175.00 in a research report on Monday, June 23rd. HSBC upgraded Advanced Micro Devices from a “reduce” rating to a “hold” rating in a report on Tuesday, May 27th. TD Cowen lifted their price target on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Loop Capital lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $139.55.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $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 is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Brighton Jones LLC lifted its position in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after buying an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Advanced Micro Devices by 36.9% during the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer’s stock valued at $589,000 after buying an additional 1,315 shares during the last quarter. Finally, NBT Bank N A NY raised its stake in shares of Advanced Micro Devices by 8.8% during the fourth quarter. NBT Bank N A NY now owns 2,038 shares of the semiconductor manufacturer’s stock valued at $246,000 after acquiring an additional 165 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Up 2.2%

The stock has a market capitalization of $223.46 billion, a P/E ratio of 101.34, a P/E/G ratio of 1.74 and a beta of 2.05. The firm’s 50 day moving average price is $119.44 and its 200 day moving average price is $111.75. 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 (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a share 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 buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.