Advanced Micro Devices (NASDAQ:AMD) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $175.00 price target on the semiconductor manufacturer’s stock, down from their prior price target of $195.00.

A number of other brokerages also recently commented on AMD. Melius Research upgraded Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price objective for the company in a research note on Monday, January 8th. New Street Research raised shares of Advanced Micro Devices from a neutral rating to a buy rating and set a $215.00 target price for the company in a research note on Wednesday, January 24th. Susquehanna dropped their price target on shares of Advanced Micro Devices from $200.00 to $185.00 and set a positive rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on Advanced Micro Devices from $115.00 to $180.00 and gave the stock a neutral rating in a report on Wednesday, January 31st. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of Moderate Buy and a consensus target price of $184.24.

Advanced Micro Devices Trading Up 3.0 %

NASDAQ AMD opened at $150.60 on Wednesday. The company’s fifty day moving average price is $175.93 and its two-hundred day moving average price is $151.50. The company has a market capitalization of $243.39 billion, a price-to-earnings ratio of 221.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. Advanced Micro Devices has a 12 month low of $81.11 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.86.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Advanced Micro Devices will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total value of $2,876,634.00. Following the completion of the sale, the executive vice president now owns 1,554,602 shares in the company, valued at $276,050,677.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $276,050,677.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,850 shares of company stock worth $34,637,833. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the stock. Chase Investment Counsel Corp raised its holdings in shares of Advanced Micro Devices by 0.7% during the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock valued at $1,772,000 after purchasing an additional 87 shares in the last quarter. Washburn Capital Management Inc. acquired a new position in Advanced Micro Devices during the fourth quarter worth $231,000. Pathway Financial Advisors LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $229,000. Independence Bank of Kentucky grew its holdings in Advanced Micro Devices by 84.1% during the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at $1,759,000. 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.