Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.5% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 1.5% on Tuesday after Piper Sandler raised their price target on the stock from $125.00 to $140.00. Piper Sandler currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $130.70 and last traded at $128.30. 41,270,471 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 41,668,191 shares. The stock had previously closed at $126.39.

Several other brokerages have also recently commented on AMD. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Stifel Nicolaus restated a “buy” rating and set a $132.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Wedbush reissued an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. TD Cowen increased their price target 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. Finally, Morgan Stanley reduced their price target 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. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.61.

Insiders Place Their Bets

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 shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 200 shares in the last quarter. American Capital Advisory LLC increased its holdings in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 130 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices in the 4th quarter worth about $29,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 0.6%

The business has a fifty day simple moving average of $106.08 and a 200-day simple moving average of $111.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a market cap of $206.08 billion, a price-to-earnings ratio of 93.46, a PEG ratio of 1.61 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a share 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 often a sign that the company’s board believes its stock is undervalued.

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.