Advanced Micro Devices (NASDAQ:AMD) Trading 1.4% Higher on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was up 1.4% on Monday after Sanford C. Bernstein raised their price target on the stock from $95.00 to $140.00. Sanford C. Bernstein currently has a market perform rating on the stock. Advanced Micro Devices traded as high as $160.34 and last traded at $159.14. Approximately 14,278,435 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 41,702,872 shares. The stock had previously closed at $156.99.

Other research analysts have also issued research reports about the stock. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a “buy” rating in a research note on Friday, June 13th. Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Friday, June 13th. KeyCorp cut shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 8th. Citigroup raised their price objective on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a “neutral” rating in a report on Friday. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.68.

Insider Buying and Selling at Advanced Micro Devices

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

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dogwood Wealth Management LLC raised its holdings in Advanced Micro Devices by 2,311.1% in the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares in the last quarter. West Branch Capital LLC grew its position in Advanced Micro Devices by 3,057.1% during the 2nd quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 214 shares during the last quarter. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The firm’s fifty day moving average price is $127.67 and its 200 day moving average price is $113.20. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market cap of $254.56 billion, a PE ratio of 115.44, a P/E/G ratio of 2.08 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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.