Advanced Micro Devices (NASDAQ:AMD) Stock Price Expected to Rise, Barclays Analyst Says

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target raised by equities researchers at Barclays from $110.00 to $130.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor manufacturer's stock. Barclays's target price indicates a potential upside of 11.82% from the stock's previous close.

AMD has been the topic of several other research reports. Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. 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 research note on Thursday, April 24th. Morgan Stanley reduced their target price 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. Melius Research set a $110.00 target price on Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.10.

Advanced Micro Devices Trading Up 1.1%

AMD stock traded up $1.27 during midday trading on Friday, hitting $116.26. The company had a trading volume of 13,471,831 shares, compared to its average volume of 42,809,038. 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 stock has a market cap of $188.51 billion, a price-to-earnings ratio of 117.47, a PEG ratio of 1.11 and a beta of 1.97. The stock's 50 day moving average price is $98.53 and its 200 day moving average price is $115.48. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. The company 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 firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated 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 owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the stock. DnB Asset Management AS boosted its stake in Advanced Micro Devices by 161.7% during the first quarter. DnB Asset Management AS now owns 1,188,832 shares of the semiconductor manufacturer's stock worth $122,141,000 after buying an additional 734,563 shares during the period. Eminence Capital LP boosted its position in Advanced Micro Devices by 52.5% in the 1st quarter. Eminence Capital LP now owns 1,566,817 shares of the semiconductor manufacturer's stock worth $160,975,000 after purchasing an additional 539,075 shares in the last quarter. Eventide Asset Management LLC boosted its position in Advanced Micro Devices by 33.1% in the 1st quarter. Eventide Asset Management LLC now owns 6,830 shares of the semiconductor manufacturer's stock worth $703,000 after purchasing an additional 1,697 shares in the last quarter. Cinctive Capital Management LP raised its stake in Advanced Micro Devices by 35.6% in the 1st quarter. Cinctive Capital Management LP now owns 4,218 shares of the semiconductor manufacturer's stock valued at $433,000 after purchasing an additional 1,107 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Advanced Micro Devices by 70.3% in the 1st quarter. AQR Capital Management LLC now owns 471,506 shares of the semiconductor manufacturer's stock worth $47,636,000 after acquiring an additional 194,674 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

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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