Advanced Micro Devices (NASDAQ:AMD) Upgraded at Melius Research

Melius Research upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a hold rating to a strong-buy rating in a research report report published on Monday, MarketBeat Ratings reports. Melius Research currently has $175.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $110.00.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Robert W. Baird reduced their price target on shares of 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. Morgan Stanley decreased their target price on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Loop Capital dropped their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.19.

Advanced Micro Devices Stock Up 3.6%

Shares of NASDAQ AMD opened at $143.40 on Monday. 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 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $110.81 and its two-hundred day moving average is $111.01. The firm has a market cap of $232.51 billion, a price-to-earnings ratio of 105.44, a PEG ratio of 1.79 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts predict that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently made changes to their positions in AMD. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.4% during the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock valued at $15,654,222,000 after purchasing an additional 2,157,199 shares during the last quarter. Geode Capital Management LLC grew its stake in Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after acquiring an additional 835,413 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the period. Norges Bank acquired a new position in Advanced Micro Devices in the 4th quarter valued at approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Advanced Micro Devices by 9.9% during 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 valued at $2,585,079,000 after buying an additional 1,929,225 shares during the period. Institutional investors and hedge funds 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.