Advanced Micro Devices (NASDAQ:AMD) Shares Gap Up Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $110.00 to $130.00. The stock had previously closed at $112.46, but opened at $119.83. Barclays currently has an overweight rating on the stock. Advanced Micro Devices shares last traded at $118.84, with a volume of 29,746,500 shares.

Other analysts also recently issued reports about the stock. Citigroup restated a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday. Summit Insights upgraded shares of Advanced Micro Devices to a "hold" rating in a report on Tuesday, February 4th. Wolfe Research downgraded shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 16th. DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a report on Thursday, May 8th. Finally, Raymond James restated an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.10.

Insider Activity

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 transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade 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 accessible through this link. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Segment Wealth Management LLC boosted its stake in shares of Advanced Micro Devices by 0.5% during the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer's stock valued at $1,937,000 after purchasing an additional 87 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in Advanced Micro Devices by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer's stock valued at $575,000 after acquiring an additional 91 shares during the last quarter. TFG Advisers LLC lifted its position in Advanced Micro Devices by 2.0% during the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer's stock valued at $573,000 after acquiring an additional 92 shares during the last quarter. Seaview Investment Managers LLC lifted its position in Advanced Micro Devices by 4.3% during the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer's stock valued at $232,000 after acquiring an additional 93 shares during the last quarter. Finally, BSW Wealth Partners lifted its position in Advanced Micro Devices by 1.1% during the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer's stock valued at $1,068,000 after acquiring an additional 94 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

The stock's 50-day moving average is $98.94 and its 200 day moving average is $114.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a market cap of $189.98 billion, a PE ratio of 118.35, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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.