Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $165.00 at Citigroup

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price objective hoisted by analysts at Citigroup from $145.00 to $165.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the semiconductor manufacturer's stock. Citigroup's price target points to a potential upside of 4.39% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Bank of America boosted their price target on Advanced Micro Devices from $130.00 to $175.00 in a report on Wednesday. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research note on Friday, June 13th. KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Advanced Micro Devices in a research note on Monday, June 9th. Finally, Hsbc Global Res upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.23.

Advanced Micro Devices Stock Down 1.5%

Shares of NASDAQ AMD traded down $2.36 during midday trading on Friday, hitting $158.06. 30,815,997 shares of the company's stock were exchanged, compared to its average volume of 41,871,937. The company has a market cap of $256.27 billion, a PE ratio of 116.16, a P/E/G ratio of 2.14 and a beta of 2.05. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $174.05. The firm's fifty day simple moving average is $126.58 and its 200-day simple moving average is $113.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the business posted $0.62 EPS. The company's revenue was up 35.9% on a year-over-year basis. Research analysts predict that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

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

Insider Buying and Selling

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 sale, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Advanced Micro Devices by 277.8% in the first 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 increased its holdings in shares of Advanced Micro Devices by 90.3% in the first 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. Kozak & Associates Inc. increased its holdings in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $30,000. 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.

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