Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $140.00 at Piper Sandler

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target increased by equities research analysts at Piper Sandler from $125.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor manufacturer's stock. Piper Sandler's price objective would indicate a potential upside of 10.45% from the stock's previous close.

AMD has been the subject of several other reports. Robert W. Baird reduced their target price on 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. UBS Group lowered their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Roth Capital raised their target price on Advanced Micro Devices from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald reissued an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Finally, DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research note on Thursday, May 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $134.61.

Advanced Micro Devices Trading Up 9.1%

Shares of NASDAQ:AMD traded up $10.60 during midday trading on Monday, hitting $126.76. 40,844,163 shares of the stock were exchanged, compared to its average volume of 41,435,986. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28. The stock has a market capitalization of $205.52 billion, a price-to-earnings ratio of 128.47, a P/E/G ratio of 1.11 and a beta of 1.99. The business's 50-day moving average price is $104.51 and its 200 day moving average price is $111.15.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm earned $0.62 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. Analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current year.

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

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the 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 transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Goldman Sachs Group Inc. grew its holdings in shares of Advanced Micro Devices by 169.7% during the first 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 last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Advanced Micro Devices by 131.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer's stock valued at $1,069,846,000 after buying an additional 5,915,185 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after buying an additional 4,461,609 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at about $436,746,000. 71.34% of the stock is currently 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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