Advanced Micro Devices (NASDAQ:AMD) Trading 1.5% Higher on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s stock price shot up 1.5% during mid-day trading on Tuesday 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 $130.70 and last traded at $128.30. 41,270,471 shares traded hands during trading, a decline of 1% from the average session volume of 41,668,191 shares. The stock had previously closed at $126.39.

A number of other equities research analysts have also recently commented on AMD. Melius Research set a $110.00 target price on Advanced Micro Devices in a research note on Wednesday, May 7th. Robert W. Baird decreased their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Susquehanna dropped their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $120.00 price objective (up previously from $100.00) on shares of Advanced Micro Devices in a research report on Monday, June 9th. Fifteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average target price of $134.61.

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 that occurred 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 transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of AMD. Brighton Jones LLC grew its holdings in shares of 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 purchasing an additional 29,438 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $34,366,000. Revolve Wealth Partners LLC boosted its holdings in 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 acquiring an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after purchasing an additional 29,825 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Advanced Micro Devices by 13.8% during the 4th quarter. Allworth Financial LP now owns 41,258 shares of the semiconductor manufacturer's stock worth $5,106,000 after purchasing an additional 4,990 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Up 1.8%

The stock's 50-day moving average price is $105.48 and its 200-day moving average price is $111.08. 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 $208.55 billion, a price-to-earnings ratio of 129.89, a P/E/G ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly 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. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the business posted $0.62 earnings per share. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. On average, 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 authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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.

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