Advanced Micro Devices (NASDAQ:AMD) Upgraded to "Hold" at The Goldman Sachs Group

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by The Goldman Sachs Group to a "hold" rating in a report issued on Thursday, MarketBeat reports. The brokerage presently has a $140.00 target price on the semiconductor manufacturer's stock. The Goldman Sachs Group's price objective points to a potential downside of 4.38% from the company's previous close.

Several other brokerages have also commented on AMD. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the stock a "buy" rating in a report on Friday, June 13th. Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 27th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein reissued a "reduce" rating on shares of Advanced Micro Devices in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $2.26 during trading hours on Thursday, reaching $146.42. The company had a trading volume of 49,944,990 shares, compared to its average volume of 41,762,072. Advanced Micro Devices has a 1-year low of $76.48 and a 1-year high of $186.99. The firm has a market cap of $237.41 billion, a PE ratio of 107.66, a price-to-earnings-growth ratio of 1.86 and a beta of 2.05. The business's 50 day moving average price is $122.16 and its 200-day moving average price is $112.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results 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 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 firm's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Research analysts forecast that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a share repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in 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 often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was 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 directly owned 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. Norges Bank purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth $2,867,193,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Advanced Micro Devices during the 2nd quarter worth $958,422,000. Goldman Sachs Group Inc. grew its holdings 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 during the period. T. Rowe Price Investment Management Inc. grew its holdings 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 during the period. Finally, Toronto Dominion Bank grew its holdings 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 during the period. 71.34% of the stock is currently 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.