Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 1.5% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 1.5% on Tuesday after Piper Sandler raised their price target on the stock from $125.00 to $140.00. Piper Sandler currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $130.70 and last traded at $128.30. 41,270,471 shares were traded during trading, a decline of 1% from the average session volume of 41,668,191 shares. The stock had previously closed at $126.39.

A number of other analysts also recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Roth Capital set a $150.00 price objective on shares of Advanced Micro Devices and gave the company a “buy” rating in a report on Friday, June 13th. Finally, Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the company an “outperform” rating in a report on Friday, June 13th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $134.61.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the stock. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $25,000. Greenline Partners LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC boosted its position in Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 130 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The company has a market cap of $205.58 billion, a PE ratio of 93.23, a PEG ratio of 1.64 and a beta of 1.99. The company’s 50-day simple moving average is $106.68 and its 200 day simple moving average is $111.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating 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 company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the company posted $0.62 EPS. The firm’s revenue was up 35.9% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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.