Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $190.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target for Advanced Micro Devices (AMD) from $161 to $190, indicating a potential upside of 9% from its current price, while maintaining a "buy" rating.
• A positive trend is reflected in the stock's ratings, with twenty-three analysts$172.10.
• AMD reported a 31.7% year-over-year revenue increase with earnings of $0.48 per share, slightly missing expectations, while also initiating a $6 billion stock repurchase plan.

Advanced Micro Devices (NASDAQ:AMD - Free Report) had its price objective hoisted by Stifel Nicolaus from $161.00 to $190.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer's stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday. Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Benchmark upped their price target on shares of Advanced Micro Devices from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday. KeyCorp cut shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. One equities 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. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and an average target price of $178.09.

Advanced Micro Devices Stock Down 6.4%

Shares of AMD stock traded down $11.19 on Wednesday, hitting $163.12. The company's stock had a trading volume of 132,642,918 shares, compared to its average volume of 60,340,328. The stock has a market capitalization of $264.48 billion, a price-to-earnings ratio of 93.75, a P/E/G ratio of 2.31 and a beta of 1.94. The firm's fifty day moving average price is $142.11 and its 200-day moving average price is $117.55. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly 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). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.61%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the company earned $0.69 earnings per share. Advanced Micro Devices's revenue for the quarter was up 31.7% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current year.

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

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. AGF Management Ltd. purchased a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $2,206,000. Summit Investment Advisors Inc. grew its stake in Advanced Micro Devices by 2.0% in the 1st quarter. Summit Investment Advisors Inc. now owns 95,961 shares of the semiconductor manufacturer's stock worth $9,859,000 after acquiring an additional 1,895 shares during the period. AE Wealth Management LLC lifted its stake in shares of Advanced Micro Devices by 3.4% during the 2nd quarter. AE Wealth Management LLC now owns 303,266 shares of the semiconductor manufacturer's stock worth $43,033,000 after purchasing an additional 9,892 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter valued at about $57,000. Finally, Summit Wealth & Retirement Planning Inc. purchased a new position in shares of Advanced Micro Devices during the 2nd quarter worth about $233,000. 71.34% of the stock is 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.