Hsbc Global Res Upgrades Advanced Micro Devices (NASDAQ:AMD) to “Strong-Buy”

Advanced Micro Devices (NASDAQ:AMD) was upgraded by equities researchers at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts also recently commented on the stock. TD Cowen increased their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. KeyCorp downgraded shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 8th. Finally, Melius Research upgraded shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from $110.00 to $175.00 in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $147.00.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $146.42 on Thursday. Advanced Micro Devices has a one year low of $76.48 and a one year high of $186.99. 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 $237.41 billion, a price-to-earnings ratio of 107.66, a PEG ratio of 1.86 and a beta of 2.05. The firm’s fifty day moving average is $122.16 and its two-hundred day moving average is $112.20.

Advanced Micro Devices (NASDAQ:AMD) last posted 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 net margin of 8.03% and a return on equity of 8.30%. The business 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 company posted $0.62 EPS. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts expect that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction dated 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 owned 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of AMD. Greenline Partners LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Advanced Micro Devices by 277.8% in the first 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 grew its position in shares of Advanced Micro Devices by 90.3% in the first 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. Kozak & Associates Inc. increased its stake in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth about $30,000. 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.