Advanced Micro Devices (NASDAQ:AMD) Shares Up 3% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded up 3% during mid-day trading on Tuesday after Hsbc Global Res upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $138.72 and last traded at $138.88. 13,458,783 shares traded hands during trading, a decline of 68% from the average session volume of 41,932,433 shares. The stock had previously closed at $134.80.

Other research analysts have also recently issued reports about the stock. Barclays increased their price target on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company'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 transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $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 the SEC website. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the company. Greenline Partners LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 200 shares during the period. American Capital Advisory LLC raised its stake in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 130 shares during the period. Kozak & Associates Inc. raised its stake in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

The stock's 50 day moving average price is $122.16 and its 200 day moving average price is $112.20. 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 firm has a market cap of $237.41 billion, a PE ratio of 107.66, a P/E/G ratio of 1.86 and a beta of 2.05.

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

Advanced Micro Devices declared that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is 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.