Wells Fargo & Company Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD) had its target price increased by equities research analysts at Wells Fargo & Company from $120.00 to $185.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.33% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley decreased their price target on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Loop Capital dropped their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Mizuho increased their price objective on Advanced Micro Devices from $152.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.58.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $160.41 on Wednesday. The company’s 50-day moving average is $126.58 and its 200 day moving average is $113.05. 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 company has a market capitalization of $260.09 billion, a P/E ratio of 117.95, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $174.05.

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

Advanced Micro Devices announced that its board has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares of the company’s stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in 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 raised its position in 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. raised its position 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 period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $30,000. 71.34% of the stock is currently owned by hedge funds and other 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.