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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by investment analysts at Melius Research from a "hold" rating to a "buy" rating in a report issued on Monday,Benzinga reports. The firm presently has a $175.00 target price on the semiconductor manufacturer's stock, up from their prior target price of $110.00. Melius Research's price target suggests a potential upside of 31.55% from the company's current price.

Several other equities analysts have also recently issued reports on the stock. HSBC upgraded shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research report on Tuesday, May 27th. Susquehanna decreased their price objective on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus restated a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Barclays upped their price target 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. Finally, DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research note on Thursday, May 8th. Thirteen research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.19.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $4.79 during midday trading on Monday, reaching $133.03. The company's stock had a trading volume of 13,208,751 shares, compared to its average volume of 41,591,030. The business has a 50-day moving average price of $108.14 and a 200-day moving average price of $110.66. The stock has a market cap of $215.69 billion, a PE ratio of 97.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. 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 (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the business earned $0.62 EPS. The business's revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices will post 3.87 EPS for the current year.

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

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the 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 sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seaview Investment Managers LLC boosted its position in Advanced Micro Devices by 4.3% in the 1st quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer's stock valued at $232,000 after buying an additional 93 shares during the last quarter. Main Street Financial Solutions LLC increased its holdings in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after purchasing an additional 98 shares during the last quarter. Activest Wealth Management raised its position in shares of Advanced Micro Devices by 9.4% in the 1st quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer's stock valued at $117,000 after purchasing an additional 98 shares in the last quarter. BCM Advisors LLC boosted its stake in shares of Advanced Micro Devices by 0.9% during the 4th quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer's stock valued at $1,366,000 after buying an additional 103 shares during the last quarter. Finally, Peterson Wealth Services grew its position in shares of Advanced Micro Devices by 2.9% during the first quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after buying an additional 103 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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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