Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $144.00 at Evercore ISI

Advanced Micro Devices (NASDAQ:AMD - Free Report) had its price objective lifted by Evercore ISI from $126.00 to $144.00 in a report published on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the semiconductor manufacturer's stock.

A number of other research firms have also commented on AMD. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 price objective (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research note on Wednesday, May 7th. Stifel Nicolaus set a $132.00 price objective on Advanced Micro Devices in a research note on Monday, April 28th. Jefferies Financial Group lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price objective for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Finally, Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average target price of $134.13.

Advanced Micro Devices Price Performance

Shares of AMD stock traded down $2.34 during mid-day trading on Friday, reaching $116.16. The stock had a trading volume of 39,620,655 shares, compared to its average volume of 41,384,483. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a market cap of $188.34 billion, a P/E ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The business has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $111.65. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results 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 return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the business posted $0.62 earnings per share. The business's revenue for the quarter was up 35.9% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC grew its position in shares of Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $29,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.