The Goldman Sachs Group Upgrades Advanced Micro Devices (NASDAQ:AMD) to Hold

Advanced Micro Devices (NASDAQ:AMD) was upgraded by equities research analysts at The Goldman Sachs Group to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $140.00 target price on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 4.38% from the company’s current price.

Several other brokerages also recently commented on AMD. Stifel Nicolaus reissued a “buy” rating and set a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Raymond James Financial reissued an “outperform” rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. One investment 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Advanced Micro Devices Price Performance

AMD stock opened at $146.42 on Thursday. The company’s 50-day moving average price is $122.16 and its two-hundred day moving average price is $112.20. The firm has a market cap of $237.41 billion, a P/E ratio of 107.66, a P/E/G ratio of 1.86 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $186.99.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly 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 quarter last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a share buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the 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 transaction, the executive vice president owned 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sandy Cove Advisors LLC lifted its position in 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 acquiring an additional 75 shares in the last quarter. Seaview Investment Managers LLC raised its stake in shares of Advanced Micro Devices by 4.3% in the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 93 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of Advanced Micro Devices by 30.3% during the second quarter. Tompkins Financial Corp now owns 417 shares of the semiconductor manufacturer’s stock valued at $59,000 after purchasing an additional 97 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in shares of Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock valued at $314,000 after buying an additional 98 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of Advanced Micro Devices by 9.4% during the first quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer’s stock valued at $117,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds 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.