Advanced Micro Devices (NASDAQ:AMD) Receives “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $132.00 price target on the semiconductor manufacturer’s stock.

Several other brokerages have also recently weighed in on AMD. Wedbush reaffirmed 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. Melius Research set a $110.00 price target on Advanced Micro Devices in a research note on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research note on Monday. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday. Finally, Wells Fargo & Company cut their target price 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. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.13.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $116.16 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $188.34 billion, a PE ratio of 117.33, a P/E/G ratio of 1.11 and a beta of 1.99. The business has a 50 day moving average of $104.51 and a 200 day moving average of $111.50. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, equities research analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling 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 transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.4% in the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock worth $15,654,222,000 after buying an additional 2,157,199 shares during the period. Geode Capital Management LLC raised its stake in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after buying an additional 835,413 shares during the period. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after buying an additional 290,784 shares during the period. Norges Bank bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after buying an additional 1,929,225 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.