Advanced Micro Devices (NASDAQ:AMD) Trading 1.4% Higher Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded up 1.4% during trading on Monday after Sanford C. Bernstein raised their price target on the stock from $95.00 to $140.00. Sanford C. Bernstein currently has a market perform rating on the stock. Advanced Micro Devices traded as high as $160.34 and last traded at $159.14. 14,278,435 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 41,702,872 shares. The stock had previously closed at $156.99.

A number of other research analysts have also issued reports on the stock. DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a research note on Thursday, May 8th. Evercore ISI set a $144.00 target price on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Friday, June 13th. Barclays upped their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Jefferies Financial Group upped their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares during the period. Proficio Capital Partners LLC raised its position in shares of Advanced Micro Devices by 36.9% in the fourth quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock valued at $589,000 after purchasing an additional 1,315 shares during the period. Finally, Millstone Evans Group LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $142,000. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

The company has a market capitalization of $257.87 billion, a P/E ratio of 117.01, a price-to-earnings-growth ratio of 2.08 and a beta of 2.05. The company's 50-day moving average price is $127.67 and its two-hundred day moving average price is $113.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released 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 business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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