Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $188.00 at Evercore ISI

Key Points

• Evercore ISI has raised its price target for Advanced Micro Devices (AMD) from $144 to $188, indicating a potential upside of 14.52% from its current price.
• Analysts have mixed ratings for AMD, with one sell rating, eleven hold ratings, twenty-three buy ratings, and four strong buy ratings, leading to a consensus rating of "Moderate Buy".
• AMD has launched a $6.00 billion share repurchase program, suggesting confidence from the company's leadership in its stock value.

Advanced Micro Devices (NASDAQ:AMD - Free Report) had its price target boosted by Evercore ISI from $144.00 to $188.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor manufacturer's stock.

AMD has been the topic of a number of other reports. Bank of America upped their price target on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Jefferies Financial Group upped their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Hsbc Global Res raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, KeyCorp cut Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Thirteen research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average price target of $178.56.

Advanced Micro Devices Trading Up 5.7%

Shares of NASDAQ:AMD traded up $9.28 during trading hours on Wednesday, hitting $172.40. 95,073,538 shares of the company's stock traded hands, compared to its average volume of 65,171,756. The firm has a market capitalization of $279.53 billion, a P/E ratio of 99.08, a price-to-earnings-growth ratio of 2.15 and a beta of 1.94. The business has a fifty day moving average price of $143.30 and a 200-day moving average price of $117.90. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $182.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The business had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. Advanced Micro Devices's revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Equities analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently modified their holdings of AMD. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after purchasing an additional 2,157,199 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after buying an additional 1,929,225 shares during the period. Amundi grew its holdings in shares of Advanced Micro Devices by 8.0% during the first quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer's stock valued at $1,677,014,000 after buying an additional 1,319,064 shares during the last quarter. Northern Trust Corp increased its position in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. Finally, Invesco Ltd. increased its position in shares of Advanced Micro Devices by 4.0% in the 1st quarter. Invesco Ltd. now owns 11,819,012 shares of the semiconductor manufacturer's stock valued at $1,214,285,000 after acquiring an additional 450,695 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.