Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) from a moderate sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on AMD. Barclays upped their price target on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Wells Fargo & Company lowered their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. KeyCorp cut shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Stifel Nicolaus set a $132.00 target price on shares of Advanced Micro Devices in a research note on Monday, April 28th. Finally, Piper Sandler restated an "overweight" rating and set a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $132.58.

Advanced Micro Devices Trading Up 0.2%

Shares of AMD traded up $0.17 during mid-day trading on Tuesday, reaching $113.03. The company's stock had a trading volume of 30,469,636 shares, compared to its average volume of 42,015,600. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The company's fifty day moving average price is $100.36 and its two-hundred day moving average price is $113.35. The stock has a market cap of $183.27 billion, a PE ratio of 114.17, a P/E/G ratio of 1.11 and a beta of 1.97.

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, topping the consensus estimate of $0.93 by $0.03. The company 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 6.36% and a return on equity of 7.42%. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 sale, the executive vice president now owns 1,713,710 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Brighton Jones LLC lifted 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 period. Union Bancaire Privee UBP SA acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $34,366,000. Revolve Wealth Partners LLC lifted 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 period. BSW Wealth Partners lifted its holdings in Advanced Micro Devices by 1.1% in the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer's stock valued at $1,068,000 after acquiring an additional 94 shares during the period. Finally, Kennedy Investment Group acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 71.34% of the company's stock.

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.