Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $160.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective raised by Jefferies Financial Group from $100.00 to $160.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

A number of other research firms also recently issued reports on AMD. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and boosted their price objective for the company from $110.00 to $175.00 in a report on Monday, June 23rd. Susquehanna cut their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, April 24th. Bank of America boosted their price objective on shares of Advanced Micro Devices from $130.00 to $175.00 in a report on Wednesday. Citigroup reissued a “hold” rating on shares of Advanced Micro Devices in a report on Monday. Finally, UBS Group cut their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $153.23.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $156.99 on Wednesday. The company has a market capitalization of $254.54 billion, a price-to-earnings ratio of 115.43, a PEG ratio of 2.12 and a beta of 2.05. 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 50-day simple moving average of $127.67 and a 200 day simple moving average of $113.30. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $174.05.

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 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 net margin of 8.03% and a return on equity of 8.30%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, sell-side analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current year.

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

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new position in Advanced Micro Devices in the 4th quarter valued at approximately $65,897,000. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. Toronto Dominion Bank increased its position in Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the period. Nicolet Bankshares Inc. increased its position in Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock valued at $426,000 after acquiring an additional 1,271 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its position in Advanced Micro Devices by 12.7% in 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 period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.