Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $135.00 at Mizuho

Advanced Micro Devices (NASDAQ:AMD) had its price target hoisted by Mizuho from $117.00 to $135.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other research firms also recently commented on AMD. Seaport Res Ptn upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. TD Cowen lifted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Bank of America lifted their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.58.

Advanced Micro Devices Stock Performance

AMD opened at $114.74 on Monday. The firm has a market cap of $186.04 billion, a P/E ratio of 115.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business’s fifty day moving average is $99.21 and its 200-day moving average is $114.52.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the firm posted $0.62 EPS. Advanced Micro Devices’s quarterly revenue was up 35.9% on a year-over-year basis. Sell-side analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’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 value of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices in the fourth quarter worth about $25,000. Greenline Partners LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake 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 valued at $28,000 after purchasing an additional 200 shares during the period. American Capital Advisory LLC raised its stake 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 valued at $28,000 after purchasing an additional 130 shares during the period. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $29,000. 71.34% of the stock is currently owned by institutional investors.

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.