Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $144.00 at Evercore ISI

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by analysts at Evercore ISI from $126.00 to $144.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Evercore ISI’s price objective would suggest a potential upside of 23.90% from the company’s previous close.

A number of other brokerages have also issued reports on AMD. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Stifel Nicolaus set a $132.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 28th. TD Cowen boosted their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Loop Capital lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Susquehanna cut their price target 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. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.81.

Advanced Micro Devices Stock Performance

AMD traded down $2.28 during trading on Friday, reaching $116.23. The company’s stock had a trading volume of 10,590,519 shares, compared to its average volume of 41,290,417. 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 company’s fifty day moving average price is $103.76 and its 200-day moving average price is $111.65. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a market capitalization of $188.45 billion, a price-to-earnings ratio of 117.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for 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%. Advanced Micro Devices’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, equities analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Advanced Micro Devices by 178.2% in the 4th 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 during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Advanced Micro Devices during the 4th quarter valued at $34,366,000. Revolve Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 2.9% during 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 period. Leavell Investment Management Inc. raised its position in shares of Advanced Micro Devices by 17.7% during the fourth quarter. Leavell Investment Management Inc. now owns 10,159 shares of the semiconductor manufacturer’s stock valued at $1,227,000 after buying an additional 1,526 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Advanced Micro Devices by 1.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 671,099 shares of the semiconductor manufacturer’s stock valued at $83,974,000 after buying an additional 10,818 shares during the period. 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.