Citigroup Increases Advanced Micro Devices (NASDAQ:AMD) Price Target to $120.00

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by investment analysts at Citigroup from $100.00 to $120.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. Citigroup’s price target would suggest a potential downside of 2.63% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $120.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Sanford C. Bernstein decreased their target price on Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Hsbc Global Res upgraded Advanced Micro Devices from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 27th. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Finally, Robert W. Baird decreased their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.23.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $123.24 on Monday. The company has a market capitalization of $199.82 billion, a P/E ratio of 124.49, a P/E/G ratio of 1.11 and a beta of 1.99. The business’s 50 day moving average is $102.35 and its two-hundred day moving average is $111.74. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $31,000. 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.