Mizuho Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective hoisted by Mizuho from $135.00 to $152.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Other research analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Loop Capital decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Melius Research upgraded Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. Finally, Wedbush restated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.74.

Advanced Micro Devices Trading Down 0.4%

NASDAQ:AMD opened at $137.93 on Thursday. The firm has a market cap of $223.64 billion, a P/E ratio of 101.42, a PEG ratio of 1.78 and a beta of 2.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $117.84 and its 200-day simple moving average is $111.51. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business 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 8.30% and a net margin of 8.03%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Equities analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Advanced Micro Devices in the fourth quarter valued at $2,867,193,000. Goldman Sachs Group Inc. increased its stake in Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock valued at $1,012,538,000 after purchasing an additional 6,200,850 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Advanced Micro Devices by 131.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock valued at $1,069,846,000 after purchasing an additional 5,915,185 shares during the last quarter. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Advanced Micro Devices in the first quarter valued at $436,746,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.