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

HSBC upgraded shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. HSBC currently has $200.00 price target on the semiconductor manufacturer's stock.

Several other analysts have also recently weighed in on the stock. Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Benchmark reaffirmed a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Loop Capital reduced their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Citigroup raised their price objective on Advanced Micro Devices from $120.00 to $145.00 and gave the company a "neutral" rating in a report on Monday. Finally, Barclays upped their target price 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $147.00.

Advanced Micro Devices Stock Up 4.2%

AMD stock traded up $5.75 during trading on Thursday, reaching $144.16. The stock had a trading volume of 60,896,933 shares, compared to its average volume of 41,798,510. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $233.74 billion, a price-to-earnings ratio of 47.40, a P/E/G ratio of 1.79 and a beta of 2.05. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.11. The company's 50 day moving average is $120.26 and its two-hundred day moving average is $111.93.

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

Advanced Micro Devices announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 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 filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its holdings 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 valued at $28,000 after buying an additional 130 shares in the last quarter. Kozak & Associates Inc. grew its position in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. 71.34% of the stock is currently owned by 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.