Mizuho Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by Mizuho from $117.00 to $135.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

AMD has been the topic of several other reports. StockNews.com raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Loop Capital dropped their price target on 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. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Melius downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $160.00 to $129.00 in a research note on Tuesday, January 28th. Finally, Summit Insights upgraded Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.58.

Advanced Micro Devices Trading Down 2.1%

Shares of NASDAQ AMD opened at $114.74 on Monday. 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 has a fifty day simple moving average of $99.21 and a two-hundred day simple moving average of $114.52. The firm has a market cap of $186.04 billion, a PE ratio of 115.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last released 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 firm had revenue of $7.44 billion during 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 business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position 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 worth $15,654,222,000 after purchasing an additional 2,157,199 shares in the last quarter. Geode Capital Management LLC increased its position in Advanced Micro Devices by 2.4% in 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 during the period. Fisher Asset Management LLC increased its position in Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after acquiring an additional 290,784 shares during the period. Norges Bank acquired a new position in Advanced Micro Devices in the 4th quarter valued at about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the period. 71.34% of the stock is currently owned by hedge funds and other 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.