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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a "hold" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a $140.00 price objective on the semiconductor manufacturer's stock. The Goldman Sachs Group's price objective would indicate a potential downside of 2.89% from the company's current price.

A number of other analysts have also weighed in on AMD. Piper Sandler increased their price objective on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Barclays increased their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Loop Capital cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Mizuho increased their price target on shares of Advanced Micro Devices from $135.00 to $152.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Advanced Micro Devices Trading Up 4.2%

Shares of Advanced Micro Devices stock opened at $144.16 on Thursday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.11. The firm has a market capitalization of $233.74 billion, a price-to-earnings ratio of 106.00, a PEG ratio of 1.79 and a beta of 2.05. The firm's 50 day simple moving average is $121.21 and its two-hundred day simple moving average is $112.07.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued 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. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. Analysts predict that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of AMD. White Wing Wealth Management boosted its stake in Advanced Micro Devices by 42.6% during the second quarter. White Wing Wealth Management now owns 4,637 shares of the semiconductor manufacturer's stock worth $658,000 after buying an additional 1,386 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in Advanced Micro Devices during the second quarter worth about $1,908,000. Clare Market Investments LLC boosted its stake in Advanced Micro Devices by 95.5% during the second quarter. Clare Market Investments LLC now owns 41,985 shares of the semiconductor manufacturer's stock worth $5,958,000 after buying an additional 20,510 shares during the period. Western Pacific Wealth Management LP boosted its stake in Advanced Micro Devices by 159.4% during the second quarter. Western Pacific Wealth Management LP now owns 1,367 shares of the semiconductor manufacturer's stock worth $194,000 after buying an additional 840 shares during the period. Finally, Kozak & Associates Inc. boosted its stake in shares of Advanced Micro Devices by 69.2% in the second quarter. Kozak & Associates Inc. now owns 516 shares of the semiconductor manufacturer's stock valued at $71,000 after purchasing an additional 211 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.