Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $185.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective upped by Wells Fargo & Company from $120.00 to $185.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also commented on AMD. Piper Sandler set a $270.00 price target on shares of Advanced Micro Devices and gave the company an “overweight” rating in a research report on Thursday, July 10th. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. KeyCorp lowered shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Citigroup reaffirmed a “hold” rating on shares of Advanced Micro Devices in a research report on Monday. Finally, Robert W. Baird reduced their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research 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 given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $153.23.

Advanced Micro Devices Price Performance

AMD opened at $156.99 on Wednesday. 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 stock 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 company’s 50-day simple moving average is $127.67 and its two-hundred day simple moving average is $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 earnings results 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 analysts’ expectations 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 prior year, the business earned $0.62 EPS. As a group, analysts predict that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

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

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the stock. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Advanced Micro Devices by 277.8% during 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 acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 130 shares during the last quarter. Kozak & Associates Inc. boosted its position in shares of Advanced Micro Devices by 67.6% during the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $30,000. 71.34% of the stock is 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.