Benchmark Reiterates “Buy” Rating for Advanced Micro Devices (NASDAQ:AMD)

Benchmark reaffirmed their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $170.00 price target on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also commented on the company. UBS Group lowered their price target on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Citigroup raised their target price on Advanced Micro Devices from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, June 9th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Mizuho raised their target price on Advanced Micro Devices from $117.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Finally, KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one 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 has a consensus rating of “Moderate Buy” and a consensus price target of $134.13.

Advanced Micro Devices Trading Down 2.0%

NASDAQ AMD opened at $116.16 on Friday. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The business has a fifty day simple moving average of $104.51 and a 200 day simple moving average of $111.50. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business 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%. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. On average, analysts predict that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s 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 transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently modified their holdings of AMD. Brighton Jones LLC boosted its position in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $34,366,000. Revolve Wealth Partners LLC boosted its position 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 valued at $1,001,000 after acquiring an additional 234 shares during the last quarter. Leavell Investment Management Inc. boosted its position in shares of Advanced Micro Devices by 17.7% during the 4th quarter. Leavell Investment Management Inc. now owns 10,159 shares of the semiconductor manufacturer’s stock valued at $1,227,000 after acquiring an additional 1,526 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Advanced Micro Devices by 1.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 671,099 shares of the semiconductor manufacturer’s stock valued at $83,974,000 after acquiring an additional 10,818 shares during the last quarter. 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.