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

Advanced Micro Devices (NASDAQ:AMD) had its target price boosted by analysts at Truist Financial from $111.00 to $173.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor manufacturer’s stock. Truist Financial’s price target points to a potential upside of 0.35% from the company’s previous close.

Several other analysts have also issued reports on the company. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a “buy” rating in a report on Friday, June 13th. Evercore ISI set a $144.00 price target on Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Friday, June 13th. Erste Group Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Benchmark increased their price objective on Advanced Micro Devices from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Piper Sandler set a $270.00 price objective on shares of Advanced Micro Devices and gave the company an “overweight” rating in a research report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $178.56.

Advanced Micro Devices Stock Up 5.7%

NASDAQ:AMD opened at $172.40 on Wednesday. The business’s fifty day moving average price is $143.30 and its 200 day moving average price is $117.90. The firm has a market capitalization of $279.53 billion, a price-to-earnings ratio of 99.08, a PEG ratio of 2.15 and a beta of 1.94. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. Advanced Micro Devices has a 1-year low of $76.48 and a 1-year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other 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 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 $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Kingstone Capital Partners Texas LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at $958,422,000. Goldman Sachs Group Inc. grew its stake in shares of Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock worth $1,012,538,000 after purchasing an additional 6,200,850 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Advanced Micro Devices by 131.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock worth $1,069,846,000 after purchasing an additional 5,915,185 shares during the period. Toronto Dominion Bank increased its holdings in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Advanced Micro Devices in the first quarter valued at about $436,746,000. 71.34% of the stock is owned by institutional investors.

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.