Mizuho Raises Advanced Micro Devices (NASDAQ:AMD) Price Target to $205.00

Key Points

• Mizuho has increased its price target for Advanced Micro Devices (NASDAQ:AMD) from $183.00 to $205.00, indicating a potential upside of 11.16% from the current stock price and maintaining an "outperform" rating.
• Other major firms like Wells Fargo and Barclays have also raised their price targets for AMD stock, with Wells Fargo targeting $185.00 and Barclays $200.00.
• AMD's recent quarterly earnings report revealed a missing of earnings expectations, reporting $0.48 EPS versus an expected $0.54, although revenue grew by 31.7% year-over-year to $7.69 billion.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price hoisted by research analysts at Mizuho from $183.00 to $205.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the semiconductor manufacturer's stock. Mizuho's price target indicates a potential upside of 13.29% from the stock's previous close.

AMD has been the subject of several other research reports. Sanford C. Bernstein raised their price objective on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. UBS Group raised their target price on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Raymond James Financial raised their target price on shares of Advanced Micro Devices from $120.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler raised their target price on shares of Advanced Micro Devices from $140.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $180.12.

Advanced Micro Devices Trading Down 1.9%

Shares of NASDAQ:AMD traded down $3.47 during trading on Thursday, reaching $180.95. The company's stock had a trading volume of 66,165,573 shares, compared to its average volume of 69,515,504. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $186.65. The firm's 50 day simple moving average is $149.48 and its two-hundred day simple moving average is $119.82. The stock has a market capitalization of $293.65 billion, a PE ratio of 103.99, a price-to-earnings-growth ratio of 2.18 and a beta of 1.94.

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

Advanced Micro Devices declared that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction 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. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 10,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the sale, the executive vice president owned 125,505 shares of the company's stock, valued at $21,738,721.05. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Brighton Jones LLC lifted its stake 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 buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC lifted its position in Advanced Micro Devices by 2.9% during 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 period. Bank Pictet & Cie Europe AG lifted 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 valued at $31,958,000 after purchasing an additional 29,825 shares during the period. Main Street Financial Solutions LLC lifted its position in Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares during the period. Finally, Farringdon Capital Ltd. acquired a new position in Advanced Micro Devices during the fourth quarter valued at $226,000. 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.