Advanced Micro Devices (NASDAQ:AMD) Shares Up 3.9% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 3.9% during trading on Monday . The company traded as high as $122.37 and last traded at $120.77. 20,061,503 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 41,430,340 shares. The stock had previously closed at $116.19.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMD shares. Wedbush restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Sanford C. Bernstein reduced their target price on Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Piper Sandler restated an “overweight” rating and issued a $125.00 price target (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Benchmark reiterated a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Finally, Mizuho raised their price objective on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $132.58.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $196.33 billion, a price-to-earnings ratio of 122.02, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a 50-day moving average price of $101.39 and a 200-day moving average price of $111.78. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results 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. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Brighton Jones LLC boosted its stake in Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after buying an additional 29,438 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $34,366,000. Revolve Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after purchasing an additional 234 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Advanced Micro Devices by 16,019.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 397,030 shares of the semiconductor manufacturer’s stock worth $440,000 after purchasing an additional 394,567 shares in the last quarter. Finally, Appleton Partners Inc. MA acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $239,000. Institutional investors own 71.34% of the company’s stock.

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.