Advanced Micro Devices (NASDAQ:AMD) Shares Up 9.5% on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares traded up 9.5% during trading on Monday after Piper Sandler raised their price target on the stock from $125.00 to $140.00. Piper Sandler currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $125.84 and last traded at $127.22. 26,852,078 shares were traded during trading, a decline of 35% from the average session volume of 41,387,915 shares. The stock had previously closed at $116.16.

Several other brokerages also recently weighed in on AMD. 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 research note on Wednesday, May 7th. Sanford C. Bernstein dropped their target price on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Barclays increased their price target on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, Morgan Stanley lowered their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.61.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth about $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. American Capital Advisory LLC raised its position in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $29,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 10.0%

The stock has a market cap of $207.23 billion, a price-to-earnings ratio of 129.13, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm's 50 day moving average is $104.51 and its two-hundred day moving average is $111.15.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly 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 firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

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