Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares traded up 1.7% during mid-day trading on Monday . The stock traded as high as $133.25 and last traded at $130.42. 26,697,021 shares were traded during mid-day trading, a decline of 36% from the average session volume of 41,632,380 shares. The stock had previously closed at $128.24.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research note on Friday, June 13th. Hsbc Global Res raised Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Wells Fargo & Company reduced their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Citigroup reiterated a "neutral" rating and set a $120.00 target price (up previously from $100.00) on shares of Advanced Micro Devices in a report on Monday, June 9th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $138.19.
Read Our Latest Research Report on Advanced Micro Devices
Advanced Micro Devices Price Performance
The firm has a market capitalization of $209.87 billion, a P/E ratio of 95.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $108.14 and a 200 day moving average of $110.66.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.
Advanced Micro Devices announced that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In related news, EVP Mark D. Papermaster sold 17,500 shares of the business'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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.
Institutional Investors Weigh In On Advanced Micro Devices
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after buying an additional 2,157,199 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after buying an additional 835,413 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after buying an additional 290,784 shares during the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Advanced Micro Devices by 9.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.
About Advanced Micro Devices
(
Get Free Report)
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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