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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded 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. 14,278,435 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 41,702,872 shares. The stock had previously closed at $156.99.

Several other research firms have also weighed in on AMD. Wall Street Zen upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Wells Fargo & Company boosted their price target on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Benchmark restated a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Wedbush restated an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Citigroup boosted their price target on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.68.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Brighton Jones LLC boosted its stake in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after acquiring an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock valued at $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Advanced Micro Devices by 36.9% during the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer’s stock valued at $589,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $142,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Up 1.3%

The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $257.87 billion, a P/E ratio of 117.01, a P/E/G ratio of 2.08 and a beta of 2.05. The business has a 50-day moving average price of $127.67 and a 200 day moving average price of $113.20.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, 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 authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership 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.