Wells Fargo & Company Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target upped by Wells Fargo & Company from $120.00 to $185.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor manufacturer's stock. Wells Fargo & Company's price target suggests a potential upside of 17.41% from the stock's previous close.

AMD has been the subject of several other research reports. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a research report on Thursday, July 10th. DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Benchmark reiterated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Mizuho increased their target price on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $153.23.

Advanced Micro Devices Stock Down 1.8%

AMD traded down $2.84 during trading on Wednesday, hitting $157.57. The company had a trading volume of 36,934,092 shares, compared to its average volume of 41,896,871. The company has a market cap of $255.49 billion, a PE ratio of 115.95, a P/E/G ratio of 2.14 and a beta of 2.05. The business has a 50-day moving average of $126.58 and a 200-day moving average of $113.05. 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 has a 1-year low of $76.48 and a 1-year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a stock buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently made changes to their positions in the business. Heritage Financial Services LLC purchased a new position in Advanced Micro Devices in the second quarter valued at about $219,000. Madrona Financial Services LLC increased its stake in shares of Advanced Micro Devices by 42.0% during the 2nd quarter. Madrona Financial Services LLC now owns 3,535 shares of the semiconductor manufacturer's stock worth $502,000 after purchasing an additional 1,045 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of Advanced Micro Devices by 17.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 3,711 shares of the semiconductor manufacturer's stock worth $527,000 after purchasing an additional 546 shares in the last quarter. Dogwood Wealth Management LLC increased its stake in shares of Advanced Micro Devices by 2,311.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 208 shares in the last quarter. Finally, First Pacific Financial increased its stake in shares of Advanced Micro Devices by 2.8% during the 2nd quarter. First Pacific Financial now owns 7,130 shares of the semiconductor manufacturer's stock worth $1,012,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

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.