Advanced Micro Devices's (NASDAQ: AMD) new Radeon 6000 series graphics cards don't seem to be hurting rival NVIDIA (NASDAQ: NVDA). Shares of NVIDIA have outperformed both the NASDAQ Composite and AMD year to date. In fact, NVIDIA stock is up 6%, while AMD shares have fallen over
Semiconductor company Advanced Micro Devices (AMD) announced a new share repurchase program of up to $4 billion worth of shares. Following the share buyback announcement, AMD shares rose 2.4% on May 19 to close at $76.23.
Advanced Micro intends to fund the buyback through cash generated from operations, the company said.
Under the program, the company will buy back shares in the open market. This repurchase program has no termination date.
Advanced Micro’s CEO Lisa Su said, “Today’s announcement reflects our confidence in AMD’s business and the successful execution of our multi-year growth strategy.”
She further added, “Our strong financial results and growing cash generation enable us to invest in the business and begin returning capital to our shareholders.” (See Advanced Micro stock analysis on TipRanks)
On April 28, Advanced Micro reported better-than-expected Q1 results. Adjusted earnings almost tripled to $0.52 per share on a year-over-year basis and came in well ahead of analysts’ expectations of $0.44 per share. Revenue surged 93% to $3.45 billion and surpassed the consensus estimate of $3.21 billion.
Following the earnings announcement, Northland Securities analyst Gus Richard assigned a Buy rating and a price target of $116 (52.2% upside potential).
Richard commented, “We believe AMD outperformance is drive by superior products built on a superior manufacturing process. We do not expect this advantage to diminish any time soon.”
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 9 Buys, 6 Holds, and 1 Sell. The average analyst price target of $106.14 implies 39.2% upside potential to current levels. Shares have increased 35.2% over the past one year.
AMD scores a 6 of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market averages.
Chipmaker Intel Corp's shareholders did not approve an executive compensation plan of its listed officers, according to a regulatory filing on Wednesday.
The Dow Jones Industrial Average absorbed its third consecutive loss on Wednesday amid a broad but ultimately mild selloff sparked by continued worries over a bubble in financial assets.
Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in The Gap Inc (Symbol: GPS), where a total of 52,488 contracts have traded so far, representing approximately 5.2 million underlying shares. That amounts to about 90.7% of
Ampere Computing Llc, founded by former Intel Corp President Renee James, said on Wednesday it will release a processor next year featuring its own custom-designed computing cores, joining a small group of custom chip companies that includes Apple Inc.
Sony's (NYSE: SONY) latest PlayStation 5 (PS5) has been a big hit among consumers since it went on sale in November 2020, becoming the fastest-selling new console in U.S. history. The company shipped 7.8 million units of the device by the end of March 2021, outpacing the initial
Advanced Micro Devices (NASDAQ: AMD) is doing great. The perennial runner-up in the PC and server chip markets behind Intel (NASDAQ: INTC) has been winning market share over the past few years thanks to exceptional products. AMD's Ryzen PC chips have now caught up with Intel on a
The global semiconductor shortage has disrupted many industries over the past year. Technical challenges in manufacturing new chips, tight industry bottlenecks, pandemic-related disruptions, pandemic-induced demand for consumer electronics, and the secular growth of new markets -
NVIDIA's (NASDAQ: NVDA) video gaming business has been moving the needle in a big way for the company in recent quarters, thanks to the launch of the RTX 30 series cards. The new graphics cards have triggered a massive upgrade cycle for NVIDIA because of their impressive price-to
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Daily Semiconductor Bull 3X Shares
(Symbol: SOXL) where we have detected an approximate $246.4 million dollar inflow -- that's a 6.8% increase week
3 Trending Tech Stocks To Add To Your Watchlist Right NowWhile U.S. stocks plummet amidst eye-opening inflation data, some investors may see buying opportunities in the stock market right now. Tech stocks, in particular, would be on investors’ watchlists right now seeing as
Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Advanced Micro Devices Inc (Symbol: AMD), where a total of 209,517 contracts have traded so far, representing approximately 21.0 million underlying shares. That amounts
In recent years, the loss of its technological lead in semiconductor chip design and manufacturing has come to define the plight of Intel (NASDAQ: INTC) stock. Chip designs from companies like Advanced Micro Devices (NASDAQ: AMD), Apple, and NVIDIA (NASDAQ: NVDA) are beating the
When it comes to cryptocurrency, Bitcoin (CRYPTO: BTC) is the big name in town. But Ethereum (CRYPTO: ETH) has had an incredible year.Since the beginning of the year, Ethereum's price has soared by 435%. Over the last 12 months, it's increased by more than 1,700%. The price of Bi