Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently issued reports on AMD. Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a report on Monday, June 23rd. Susquehanna cut their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, April 24th. Robert W. Baird cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wall Street Zen raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Finally, Seaport Res Ptn raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Advanced Micro Devices Stock Up 1.6%

AMD stock opened at $146.42 on Thursday. The company has a fifty day moving average price of $122.16 and a 200 day moving average price of $112.11. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $185.50. The company has a market cap of $237.41 billion, a price-to-earnings ratio of 107.66, a price-to-earnings-growth ratio of 1.89 and a beta of 2.05. 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 announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS 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 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%. Advanced Micro Devices’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. Sell-side analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC increased its stake in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Sandy Cove Advisors LLC now owns 5,470 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 75 shares during the last quarter. Seaview Investment Managers LLC increased its stake in shares of Advanced Micro Devices by 4.3% in the 1st quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock valued at $232,000 after purchasing an additional 93 shares during the last quarter. Tompkins Financial Corp grew its position in Advanced Micro Devices by 30.3% during the 2nd quarter. Tompkins Financial Corp now owns 417 shares of the semiconductor manufacturer’s stock worth $59,000 after acquiring an additional 97 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 98 shares during the last quarter. Finally, Activest Wealth Management grew its position in Advanced Micro Devices by 9.4% during the 1st quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer’s stock worth $117,000 after acquiring an additional 98 shares during the last quarter. 71.34% of the stock is 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.