Advanced Micro Devices (NASDAQ:AMD) Trading Up 3.9% Following Analyst Upgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) rose 3.9% during trading on Monday after Citigroup raised their price target on the stock from $100.00 to $120.00. Citigroup currently has a neutral rating on the stock. Advanced Micro Devices traded as high as $122.37 and last traded at $120.77. Approximately 20,061,503 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 41,430,340 shares. The stock had previously closed at $116.19.

AMD has been the topic of a number of other research reports. UBS Group decreased their target price on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Susquehanna reduced their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. KeyCorp cut Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Mizuho boosted their price target on Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus price target of $133.23.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was 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 of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $25,000. Greenline Partners LLC bought a new position in Advanced Micro Devices in the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $29,000. Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $31,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 2.2%

The stock has a market cap of $192.14 billion, a P/E ratio of 119.70, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a 50-day moving average price of $103.06 and a 200-day moving average price of $111.80.

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, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

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.