Mizuho Raises Advanced Micro Devices (NASDAQ:AMD) Price Target to $205.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by investment analysts at Mizuho from $183.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective points to a potential upside of 15.49% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Morgan Stanley lowered their price objective on Advanced Micro Devices from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Melius Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.12.

Advanced Micro Devices Stock Down 1.9%

Shares of NASDAQ AMD opened at $177.51 on Thursday. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $288.07 billion, a price-to-earnings ratio of 102.02, a PEG ratio of 2.14 and a beta of 1.94. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $186.65. The stock has a 50-day moving average price of $150.71 and a two-hundred day moving average price of $120.26.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, 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 stock repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Darren Grasby sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total value of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares of the company’s stock, valued at approximately $21,738,721.05. This represents a 7.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Advanced Micro Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock valued at $21,944,673,000 after acquiring an additional 2,281,508 shares during the last quarter. State Street Corp lifted its position in Advanced Micro Devices by 0.8% in the 2nd quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock worth $10,226,628,000 after buying an additional 581,330 shares during the last quarter. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock worth $5,181,556,000 after buying an additional 514,445 shares during the last quarter. Norges Bank bought a new stake in Advanced Micro Devices in the 2nd quarter worth approximately $3,094,662,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 9.9% in the 4th 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. Institutional investors 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.