Barclays Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD) had its price objective boosted by stock analysts at Barclays from $110.00 to $130.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target would suggest a potential upside of 10.95% from the stock’s previous close.

Several other analysts also recently weighed in on AMD. Piper Sandler reiterated an “overweight” rating and set a $125.00 target price (down from $140.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Seaport Res Ptn upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Bank of America lifted their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James reiterated an “outperform” rating and set a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $132.10.

Advanced Micro Devices Stock Up 1.9%

Shares of AMD opened at $117.17 on Friday. The company has a market cap of $189.98 billion, a PE ratio of 118.35, a P/E/G ratio of 1.11 and a beta of 1.97. The business has a fifty day moving average of $98.94 and a 200 day moving average of $114.91. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (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 return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices’s revenue was up 35.9% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’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 transaction of $1,670,725.00. Following the sale, the executive vice president now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Large investors have recently bought and sold shares of the stock. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew 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 purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC grew 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 purchasing an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $29,000. 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.