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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by equities research analysts at HSBC from a "hold" rating to a "buy" rating in a report issued on Thursday,Benzinga reports. The brokerage presently has a $200.00 price objective on the semiconductor manufacturer's stock. HSBC's price objective would suggest a potential upside of 44.50% from the company's current price.

A number of other research analysts also recently weighed in on AMD. Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Wells Fargo & Company lowered their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Susquehanna reduced their target price on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.45.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $138.41 on Thursday. The firm has a 50-day moving average of $120.26 and a 200-day moving average of $111.93. The company has a market cap of $224.42 billion, a P/E ratio of 101.77, a P/E/G ratio of 1.78 and a beta of 2.05. 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 has a one year low of $76.48 and a one 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 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts forecast that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a share repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Goldman Sachs Group Inc. grew its stake in Advanced Micro Devices by 169.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock valued at $1,012,538,000 after acquiring an additional 6,200,850 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Advanced Micro Devices by 131.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer's stock worth $1,069,846,000 after purchasing an additional 5,915,185 shares during the last quarter. Toronto Dominion Bank boosted its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter worth $436,746,000. Institutional investors and hedge funds own 71.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.