Advanced Micro Devices (NASDAQ:AMD) Stock Price Expected to Rise, Mizuho Analyst Says

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by equities researchers at Mizuho from $152.00 to $175.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective would suggest a potential upside of 9.10% from the stock’s current price.

A number of other equities analysts have also recently commented on AMD. KeyCorp cut Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Thursday, May 8th. Sanford C. Bernstein reaffirmed a “reduce” rating on shares of Advanced Micro Devices in a research note on Tuesday, July 1st. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Thursday, July 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $132.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.58.

Advanced Micro Devices Trading Up 0.2%

NASDAQ AMD opened at $160.41 on Wednesday. The firm has a market capitalization of $260.09 billion, a P/E ratio of 117.95, a PEG ratio of 2.14 and a beta of 2.05. The business has a fifty day simple moving average of $126.58 and a 200 day simple moving average of $113.05. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $174.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results 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 firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 35.9% compared to the same quarter last year. On average, analysts predict 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 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Advanced Micro Devices by 1.4% in the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock worth $15,654,222,000 after buying an additional 2,157,199 shares during the last quarter. Geode Capital Management LLC grew its position in Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after buying an additional 835,413 shares during the last quarter. Norges Bank acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. Finally, Amundi boosted its stake in Advanced Micro Devices by 8.0% in the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after purchasing an additional 1,319,064 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.