Mizuho Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD) had its target price boosted by stock analysts at Mizuho from $117.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s target price would indicate a potential upside of 17.91% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Morgan Stanley cut their target price on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Susquehanna dropped their price objective on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, April 24th. Finally, Wedbush reissued an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.58.

Advanced Micro Devices Trading Down 2.3%

Shares of Advanced Micro Devices stock traded down $2.67 on Monday, hitting $114.50. The stock had a trading volume of 21,038,386 shares, compared to its average volume of 42,606,224. The stock has a 50 day moving average of $98.94 and a 200 day moving average of $114.71. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm has a market capitalization of $185.64 billion, a P/E ratio of 115.72, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. 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 of Directors has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was 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 directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $65,897,000. Enzi Wealth purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $569,000. Welch Group LLC raised its stake in shares of Advanced Micro Devices by 6.3% in the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock worth $6,179,000 after purchasing an additional 2,981 shares during the last quarter. Stonegate Investment Group LLC raised its stake in shares of Advanced Micro Devices by 39.5% in the fourth quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer’s stock worth $61,896,000 after purchasing an additional 145,067 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.