Advanced Micro Devices (NASDAQ:AMD) Now Covered by The Goldman Sachs Group

Research analysts at The Goldman Sachs Group started coverage on shares of Advanced Micro Devices (NASDAQ:AMD - Get Free Report) in a research note issued on Thursday,Benzinga reports. The brokerage set a "neutral" rating and a $140.00 price target on the semiconductor manufacturer's stock. The Goldman Sachs Group's target price points to a potential downside of 2.89% from the company's current price.

Other analysts have also issued research reports about the company. UBS Group decreased their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the company from $135.00 to $120.00 in a report on Thursday, March 27th. Citigroup increased their price target on Advanced Micro Devices from $120.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Wedbush restated an "outperform" rating and set a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.00.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded up $5.75 during midday trading on Thursday, reaching $144.16. 60,896,933 shares of the stock traded hands, compared to its average volume of 41,798,510. The company's 50 day moving average is $120.26 and its 200 day moving average is $111.93. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock has a market capitalization of $233.74 billion, a PE ratio of 47.40, a P/E/G ratio of 1.79 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the business. Brighton Jones LLC lifted its position in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after purchasing an additional 234 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC raised its position in Advanced Micro Devices by 36.9% during the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock worth $589,000 after buying an additional 1,315 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Advanced Micro Devices by 11.6% during the 4th quarter. Moors & Cabot Inc. now owns 23,446 shares of the semiconductor manufacturer's stock valued at $2,832,000 after acquiring an additional 2,428 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.