Advanced Micro Devices (NASDAQ:AMD) Given New $210.00 Price Target at UBS Group

Key Points

• UBS Group raised the price target for Advanced Micro Devices (AMD) shares from $150.00 to $210.00, indicating a potential upside of 20.93% from the previous close.
• The company reported a 35.9% increase in revenue year-over-year, with earnings per share of $0.96, surpassing analyst expectations.
• Advanced Micro Devices has authorized a $6.00 billion stock buyback plan, signaling the board's belief that the shares are undervalued.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target hoisted by equities research analysts at UBS Group from $150.00 to $210.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. UBS Group's price objective would indicate a potential upside of 20.93% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Monday, June 9th. Hsbc Global Res upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. TD Cowen upped their price target on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.61.

Advanced Micro Devices Stock Performance

AMD stock traded up $7.19 during mid-day trading on Monday, reaching $173.66. The company had a trading volume of 67,841,680 shares, compared to its average volume of 43,706,164. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $281.57 billion, a P/E ratio of 127.69, a P/E/G ratio of 2.20 and a beta of 2.05. Advanced Micro Devices has a one year low of $76.48 and a one year high of $174.70. The stock's 50-day simple moving average is $132.24 and its two-hundred day simple moving average is $114.41.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results 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 firm 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% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Research analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's 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 completion of the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 valued at $15,654,222,000 after acquiring an additional 2,157,199 shares during the period. Geode Capital Management LLC increased its holdings in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after buying an additional 835,413 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Advanced Micro Devices by 9.9% in 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 worth $2,585,079,000 after acquiring an additional 1,929,225 shares during the last quarter. Amundi boosted its holdings in shares of Advanced Micro Devices by 8.0% in the first quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer's stock worth $1,677,014,000 after acquiring an additional 1,319,064 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.

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