Advanced Micro Devices (NASDAQ:AMD) Upgraded at HSBC

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by HSBC from a "reduce" rating to a "hold" rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

Several other brokerages have also recently issued reports on AMD. Benchmark restated a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. UBS Group dropped their target price on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Truist Financial set a $130.00 target price on Advanced Micro Devices in a research report on Wednesday, February 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $120.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Morgan Stanley cut their price objective on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $1.70 during mid-day trading on Tuesday, reaching $112.86. The stock had a trading volume of 26,958,375 shares, compared to its average volume of 42,119,470. The business's 50 day moving average price is $100.23 and its 200 day moving average price is $113.35. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a market cap of $182.99 billion, a P/E ratio of 114.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. 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 (NASDAQ:AMD - Get Free Report) last posted 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 return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the company earned $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Research analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in AMD. KLP Kapitalforvaltning AS acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $65,897,000. Enzi Wealth purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $569,000. Welch Group LLC boosted its stake in Advanced Micro Devices by 6.3% during the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock worth $6,179,000 after purchasing an additional 2,981 shares during the last quarter. Stonegate Investment Group LLC raised its holdings in Advanced Micro Devices by 39.5% in the 4th quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer's stock valued at $61,896,000 after acquiring an additional 145,067 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after buying an additional 1,441,626 shares in the last quarter. Hedge funds and other institutional investors 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.