Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $130.00 at Barclays

Advanced Micro Devices (NASDAQ:AMD - Free Report) had its price objective increased by Barclays from $110.00 to $130.00 in a report released on Friday, Marketbeat Ratings reports. They currently have an overweight rating on the semiconductor manufacturer's stock.

AMD has been the subject of several other reports. 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 report on Thursday, April 24th. Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wolfe Research lowered Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 16th. Roth Capital set a $140.00 price objective on Advanced Micro Devices in a report on Wednesday, February 5th. Finally, StockNews.com raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.

Advanced Micro Devices Trading Down 1.0%

AMD traded down $1.20 during midday trading on Friday, reaching $113.54. 17,378,461 shares of the company were exchanged, compared to its average volume of 41,033,641. 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 market capitalization of $184.09 billion, a P/E ratio of 114.67, a PEG ratio of 1.11 and a beta of 1.97. The stock's 50-day simple moving average is $99.21 and its 200 day simple moving average is $114.52. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the firm posted $0.62 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was 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. 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. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC bought a new position in Advanced Micro Devices during the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth $29,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.