Advanced Micro Devices (NASDAQ:AMD) Raised to "Buy" at Melius

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by equities researchers at Melius from a "hold" rating to a "buy" rating in a research report issued on Monday,Finviz reports. The brokerage currently has a $175.00 price objective on the semiconductor manufacturer's stock. Melius' price objective indicates a potential upside of 36.46% from the stock's current price.

Several other analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price target for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Wedbush reissued an "outperform" rating and issued a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Mizuho upped their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, May 19th. HSBC raised shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, Melius Research set a $110.00 price target on Advanced Micro Devices in a research report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.10.

Advanced Micro Devices Trading Up 1.1%

Shares of Advanced Micro Devices stock opened at $128.24 on Monday. The firm has a market capitalization of $207.93 billion, a PE ratio of 94.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99. The firm's 50 day moving average is $108.14 and its 200 day moving average is $110.66. 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 1 year low of $76.48 and a 1 year high of $187.28.

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, topping analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. Equities research analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction 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 owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Brighton Jones LLC increased its holdings in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its stake in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after acquiring an additional 29,825 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Advanced Micro Devices by 3.0% in the 4th quarter. Wealthspire Advisors LLC now owns 11,044 shares of the semiconductor manufacturer's stock worth $1,334,000 after purchasing an additional 321 shares in the last quarter. Finally, MONECO Advisors LLC increased its holdings in Advanced Micro Devices by 10.7% in the 4th quarter. MONECO Advisors LLC now owns 8,755 shares of the semiconductor manufacturer's stock worth $1,058,000 after acquiring an additional 845 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.

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