Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 2.1% After Analyst Upgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shot up 2.1% on Friday after Barclays raised their price target on the stock from $110.00 to $130.00. Barclays currently has an overweight rating on the stock. Advanced Micro Devices traded as high as $118.24 and last traded at $117.42. 17,743,119 shares were traded during mid-day trading, a decline of 59% from the average session volume of 42,821,712 shares. The stock had previously closed at $114.99.

Several other research firms have also recently weighed in on AMD. Mizuho lowered their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Summit Insights raised Advanced Micro Devices to a "hold" rating in a report on Tuesday, February 4th. Piper Sandler reissued an "overweight" rating and issued a $125.00 price target (down previously from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Melius cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price target for the company from $160.00 to $129.00 in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus target price of $132.10.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently bought and sold shares of AMD. DnB Asset Management AS grew its stake in shares of 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 last quarter. Eminence Capital LP lifted its stake in shares of Advanced Micro Devices by 52.5% during the 1st quarter. Eminence Capital LP now owns 1,566,817 shares of the semiconductor manufacturer's stock valued at $160,975,000 after buying an additional 539,075 shares in the last quarter. Eventide Asset Management LLC lifted its stake 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 position in shares of Advanced Micro Devices by 35.6% during the 1st quarter. Cinctive Capital Management LP now owns 4,218 shares of the semiconductor manufacturer's stock valued at $433,000 after buying an additional 1,107 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Advanced Micro Devices by 70.3% during the 1st quarter. AQR Capital Management LLC now owns 471,506 shares of the semiconductor manufacturer's stock valued at $47,636,000 after purchasing an additional 194,674 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

The business's fifty day simple moving average is $98.53 and its 200-day simple moving average is $115.48. 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 has a market cap of $190.44 billion, a P/E ratio of 118.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

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. 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 during the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the company posted $0.62 EPS. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has initiated a share buyback plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication 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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