Advanced Micro Devices (NASDAQ:AMD) Upgraded to "Strong-Buy" at Hsbc Global Res

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by equities research analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on AMD. Morgan Stanley reduced their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Evercore ISI set a $144.00 target price on shares of Advanced Micro Devices and gave the company an "outperform" rating in a report on Friday, June 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a report on Monday, June 9th. TD Cowen upped their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Piper Sandler set a $270.00 target price on shares of Advanced Micro Devices and gave the company an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Advanced Micro Devices Price Performance

Shares of AMD opened at $144.16 on Thursday. Advanced Micro Devices has a 1-year low of $76.48 and a 1-year high of $187.11. The stock has a market cap of $233.74 billion, a PE ratio of 106.00, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a fifty day moving average price of $121.21 and a 200 day moving average price of $112.07.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share 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 firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

Several large investors have recently modified their holdings of AMD. Brighton Jones LLC grew its position in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of 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 purchasing an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Advanced Micro Devices by 36.9% during the fourth quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock worth $589,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its position in Advanced Micro Devices by 23.0% during the fourth quarter. Achmea Investment Management B.V. now owns 77,436 shares of the semiconductor manufacturer's stock worth $9,354,000 after acquiring an additional 14,465 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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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