Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Melius

Melius upgraded shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $175.00 price objective on the semiconductor manufacturer's stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America lifted their price objective on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Roth Capital set a $150.00 price target on Advanced Micro Devices and gave the company a "buy" rating in a report on Friday, June 13th. Barclays increased their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Melius Research set a $110.00 target price on Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Benchmark reiterated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $138.19.

Advanced Micro Devices Trading Up 0.2%

NASDAQ:AMD traded up $0.28 during mid-day trading on Monday, hitting $143.68. 57,914,689 shares of the stock traded hands, compared to its average volume of 42,124,839. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market capitalization of $232.96 billion, a price-to-earnings ratio of 105.65, a PEG ratio of 1.85 and a beta of 1.99. The firm's 50 day moving average is $110.81 and its two-hundred day moving average is $111.01.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company earned $0.62 EPS. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities research 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 initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $65,897,000. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. boosted its position in shares of Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after buying an additional 290,784 shares during the last quarter. Institutional investors and hedge funds 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.