Citigroup Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price lifted by stock analysts at Citigroup from $100.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor manufacturer's stock. Citigroup's price target points to a potential downside of 1.20% from the company's current price.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $120.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Evercore ISI cut their price objective on shares of Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Sanford C. Bernstein cut their price objective on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Finally, Wedbush reiterated an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $133.23.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $5.27 on Monday, reaching $121.46. 38,697,574 shares of the company were exchanged, compared to its average volume of 41,492,703. 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 1-year low of $76.48 and a 1-year high of $187.28. The firm has a market cap of $196.93 billion, a price-to-earnings ratio of 122.51, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a 50-day moving average of $101.39 and a 200-day moving average of $111.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations 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 was up 35.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. Equities analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a share repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

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 stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, 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 can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds have recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $25,000. Greenline Partners LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC raised its position in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth about $29,000. 71.34% of the stock is currently owned by institutional investors.

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.

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