Advanced Micro Devices (NASDAQ:AMD) Earns “Outperform” Rating from Wedbush

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $200.00 price objective on the semiconductor manufacturer’s stock. Wedbush’s target price points to a potential upside of 35.57% from the stock’s current price.

A number of other analysts have also recently weighed in on AMD. Raymond James cut Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $190.00 to $195.00 in a research report on Tuesday, January 30th. Evercore ISI assumed coverage on shares of Advanced Micro Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $200.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Wednesday. Roth Mkm raised their price objective on Advanced Micro Devices from $125.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Melius Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $185.35.

Advanced Micro Devices Trading Down 6.9 %

Advanced Micro Devices stock traded down $10.85 during mid-day trading on Wednesday, hitting $147.53. The company’s stock had a trading volume of 27,007,271 shares, compared to its average volume of 71,677,898. The stock has a market cap of $238.43 billion, a PE ratio of 283.68, a P/E/G ratio of 2.44 and a beta of 1.64. Advanced Micro Devices has a one year low of $81.02 and a one year high of $227.30. The company has a 50 day moving average of $177.04 and a 200-day moving average of $151.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. On average, research analysts anticipate that Advanced Micro Devices will post 2.64 EPS for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 59,293 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the transaction, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 341,143 shares of company stock valued at $62,580,844. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently added to or reduced their stakes in the company. Chase Investment Counsel Corp increased its position in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares during the last quarter. Washburn Capital Management Inc. acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $231,000. Pathway Financial Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $229,000. Independence Bank of Kentucky boosted its holdings in shares of Advanced Micro Devices by 84.1% in the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 1,677 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $1,759,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

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.