Advanced Micro Devices (NASDAQ:AMD) Given New $130.00 Price Target at Barclays

Advanced Micro Devices (NASDAQ:AMD) had its price target raised by Barclays from $110.00 to $130.00 in a research note published on Friday,Benzinga reports. Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other equities analysts also recently weighed in on AMD. Robert W. Baird dropped their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Piper Sandler reissued an “overweight” rating and set a $125.00 price objective (down from $140.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Wolfe Research downgraded Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. StockNews.com raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, TD Cowen upped their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $132.10.

Advanced Micro Devices Stock Up 1.9%

NASDAQ AMD opened at $117.17 on Friday. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $98.94 and its 200-day simple moving average is $115.15. The firm has a market cap of $189.98 billion, a PE ratio of 118.35, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, equities analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has authorized a stock buyback plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of the stock. Segment Wealth Management LLC grew its stake in Advanced Micro Devices by 0.5% during the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer’s stock worth $1,937,000 after buying an additional 87 shares during the period. Koshinski Asset Management Inc. grew its holdings in Advanced Micro Devices by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer’s stock worth $575,000 after acquiring an additional 91 shares in the last quarter. TFG Advisers LLC grew its holdings in Advanced Micro Devices by 2.0% during the 4th quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer’s stock worth $573,000 after acquiring an additional 92 shares in the last quarter. Seaview Investment Managers LLC grew its holdings in Advanced Micro Devices by 4.3% during the 1st quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 93 shares in the last quarter. Finally, BSW Wealth Partners grew its holdings in Advanced Micro Devices by 1.1% during the 4th quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer’s stock worth $1,068,000 after acquiring an additional 94 shares in the last quarter. 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.