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

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

A number of other equities research analysts have also recently commented on AMD. Robert W. Baird reduced their target price 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. Loop Capital reduced their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. TD Cowen increased their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays increased their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Bank of America increased their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $147.00.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $2.26 during trading hours on Thursday, reaching $146.42. 49,944,990 shares of the company were exchanged, compared to its average volume of 41,725,687. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock's 50-day moving average is $122.16 and its 200-day moving average is $112.02. The firm has a market cap of $237.41 billion, a PE ratio of 107.66, a price-to-earnings-growth ratio of 1.95 and a beta of 2.05. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $185.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion during 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. On average, sell-side analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in AMD. Norges Bank acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Kingstone Capital Partners Texas LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at approximately $958,422,000. Goldman Sachs Group Inc. raised its holdings in Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock valued at $1,012,538,000 after acquiring an additional 6,200,850 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Advanced Micro Devices by 131.5% during the first 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 lifted 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 buying an additional 4,461,609 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

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.