TD Cowen Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target increased by TD Cowen from $165.00 to $195.00 in a report published on Wednesday, Marketbeat reports. TD Cowen currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Morgan Stanley set a $185.00 price objective on Advanced Micro Devices and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Melius Research upgraded Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $110.00 to $175.00 in a report on Monday, June 23rd. UBS Group increased their price objective on Advanced Micro Devices from $150.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Citigroup increased their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Thirteen analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.56.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $172.76 on Wednesday. The stock has a fifty day moving average of $144.55 and a 200 day moving average of $118.25. The company has a quick ratio of 1.97, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $280.36 billion, a price-to-earnings ratio of 99.29, a PEG ratio of 2.06 and a beta of 1.94. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. Advanced Micro Devices’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. As a group, research analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Advanced Micro Devices by 1.4% in the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock worth $15,654,222,000 after purchasing an additional 2,157,199 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Advanced Micro Devices by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock valued at $5,181,556,000 after buying an additional 514,445 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after buying an additional 1,929,225 shares in the last quarter. Amundi lifted its position in shares of Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock valued at $1,677,014,000 after buying an additional 1,319,064 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.