Advanced Micro Devices (NASDAQ:AMD) Trading 9.9% Higher After Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares were up 9.9% during trading on Monday 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 $127.13 and last traded at $127.68. Approximately 34,991,522 shares traded hands during trading, a decline of 16% from the average daily volume of 41,419,731 shares. The stock had previously closed at $116.16.

Several other equities analysts have also issued reports on the company. Sanford C. Bernstein cut their target price on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI boosted their price objective on shares of Advanced Micro Devices from $126.00 to $144.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup lifted their price target on shares of Advanced Micro Devices from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Benchmark reissued a "buy" rating and issued a $170.00 price objective on shares of Advanced Micro Devices in a research report on Friday. Finally, Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and dropped their target price for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Fifteen equities research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.61.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's 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 sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the company. Seaview Investment Managers LLC boosted its holdings in shares of Advanced Micro Devices by 4.3% during the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer's stock worth $232,000 after purchasing an additional 93 shares during the period. L.M. Kohn & Company raised its position in Advanced Micro Devices by 1.4% during the 4th quarter. L.M. Kohn & Company now owns 6,973 shares of the semiconductor manufacturer's stock valued at $842,000 after purchasing an additional 97 shares during the last quarter. Main Street Financial Solutions LLC lifted its holdings in Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after buying an additional 98 shares during the period. Activest Wealth Management grew its position in shares of Advanced Micro Devices by 9.4% in the 1st quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer's stock worth $117,000 after buying an additional 98 shares during the last quarter. Finally, BCM Advisors LLC increased its stake in shares of Advanced Micro Devices by 0.9% during the fourth quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer's stock valued at $1,366,000 after buying an additional 103 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

The business has a fifty day moving average of $104.51 and a 200 day moving average of $111.15. The company has a market cap of $204.82 billion, a P/E ratio of 127.50, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate 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 business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are 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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