Rosenblatt Securities Reaffirms "Buy" Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Rosenblatt Securities in a report released on Friday,Benzinga reports. They currently have a $200.00 price objective on the semiconductor manufacturer's stock. Rosenblatt Securities' price target indicates a potential upside of 72.18% from the stock's current price.

A number of other research analysts have also weighed in on AMD. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research note on Monday, April 28th. Mizuho upped their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Melius Research set a $110.00 target price on Advanced Micro Devices in a report on Wednesday, May 7th. Citigroup upped their price objective on Advanced Micro Devices from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.13.

Advanced Micro Devices Trading Down 2.0%

Shares of AMD traded down $2.34 during trading hours on Friday, reaching $116.16. The stock had a trading volume of 39,620,655 shares, compared to its average volume of 41,384,483. The company has a market cap of $188.34 billion, a P/E ratio of 117.33, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $103.76 and a 200 day moving average of $111.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company's revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, sell-side analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices during the fourth quarter worth $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC raised its stake in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 130 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $29,000. 71.34% of the stock is 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.