Raymond James Financial Boosts Advanced Micro Devices (NASDAQ:AMD) Price Target to $200.00

Key Points

• Raymond James Financial has raised the price target for Advanced Micro Devices (AMD) from $120.00 to $200.00, suggesting a potential 14.74% upside from its current stock price.
• AMD reported a 31.7% increase in revenue year-over-year, totaling $7.69 billion for the recent quarter, though it missed earnings per share estimates by $0.06.
• Institutional investors own approximately 71.34% of AMD's shares, indicating strong institutional interest in the company.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target upped by stock analysts at Raymond James Financial from $120.00 to $200.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the semiconductor manufacturer's stock. Raymond James Financial's price objective would indicate a potential upside of 22.61% from the stock's current price.

Several other equities research analysts have also commented on AMD. Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $110.00 to $175.00 in a report on Monday, June 23rd. Bank of America increased their target price on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Stifel Nicolaus increased their price objective on shares of Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Wedbush reissued an "outperform" rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $178.09.

Advanced Micro Devices Trading Down 6.4%

Shares of NASDAQ AMD traded down $11.19 during trading hours on Wednesday, hitting $163.12. 132,642,918 shares of the company traded hands, compared to its average volume of 60,340,328. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $264.48 billion, a price-to-earnings ratio of 93.75, a price-to-earnings-growth ratio of 2.31 and a beta of 1.94. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $182.50. The company's 50 day moving average price is $142.11 and its 200 day moving average price is $117.55.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a return on equity of 7.61% and a net margin of 9.57%. The firm's quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 1,713,710 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.4% in 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 acquiring an additional 2,157,199 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 9.9% during the 4th 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 valued at $2,585,079,000 after acquiring an additional 1,929,225 shares during the last quarter. Amundi grew its stake in Advanced Micro Devices by 8.0% in the first quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer's stock worth $1,677,014,000 after purchasing an additional 1,319,064 shares in the last quarter. Northern Trust Corp increased its holdings 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 last quarter. Finally, Invesco Ltd. boosted its holdings 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 buying 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.