Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $175.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by Mizuho from $152.00 to $175.00 in a research note published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the semiconductor manufacturer’s stock.

AMD has been the topic of a number of other research reports. HSBC upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Thursday, July 10th. Wedbush reissued an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Seaport Res Ptn raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, April 30th. Stifel Nicolaus reissued a “buy” rating and issued a $132.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.23.

Advanced Micro Devices Stock Down 2.1%

NASDAQ:AMD opened at $156.99 on Wednesday. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $174.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $254.54 billion, a P/E ratio of 115.43, a P/E/G ratio of 2.12 and a beta of 2.05. The stock’s fifty day simple moving average is $127.67 and its 200-day simple moving average is $113.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

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

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $2,867,193,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $958,422,000. Goldman Sachs Group Inc. boosted its position in shares of Advanced Micro Devices by 169.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock worth $1,012,538,000 after purchasing an additional 6,200,850 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Advanced Micro Devices by 131.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock worth $1,069,846,000 after purchasing an additional 5,915,185 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. 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.