Advanced Micro Devices (NASDAQ:AMD) Shares Up 4.2% - What's Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price was up 4.2% during trading on Thursday . The company traded as high as $145.82 and last traded at $144.28. Approximately 31,774,197 shares changed hands during trading, a decline of 24% from the average daily volume of 41,884,894 shares. The stock had previously closed at $138.41.

Analyst Ratings Changes

A number of research analysts have commented on AMD shares. UBS Group decreased their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target on the stock in a research note on Thursday. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Bank of America increased their price objective on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley reduced their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Advanced Micro Devices Price Performance

The company has a market cap of $233.74 billion, a price-to-earnings ratio of 106.00, a PEG ratio of 1.79 and a beta of 2.05. 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's fifty day moving average price is $121.21 and its two-hundred day moving average price is $112.07.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS 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 business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors 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 on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMD. Vanguard Group Inc. raised its position in Advanced Micro Devices by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock worth $15,654,222,000 after purchasing an additional 2,157,199 shares during the last quarter. Geode Capital Management LLC raised its position in Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter worth $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the last quarter. Finally, Amundi raised its position in Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer's stock worth $1,677,014,000 after purchasing an additional 1,319,064 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.