Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $55.00

Advanced Micro Devices (NASDAQ:AMD) had its price target raised by research analysts at Wells Fargo & Co from $48.00 to $55.00 in a note issued to investors on Tuesday, January 7th, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Co‘s target price points to a potential upside of 9.55% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Advanced Micro Devices from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, December 24th. Loop Capital raised Advanced Micro Devices from a “hold” rating to a “buy” rating and increased their price objective for the company from $32.00 to $41.00 in a research report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Advanced Micro Devices from $32.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Zacks Investment Research upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating and set a $53.00 target price on the stock in a research report on Friday, January 3rd. Finally, ValuEngine cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Advanced Micro Devices has an average rating of “Hold” and an average price target of $39.67.

Shares of AMD traded up $1.66 on Tuesday, reaching $50.21. The stock had a trading volume of 10,525,676 shares, compared to its average volume of 46,554,836. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.54 and a current ratio of 2.10. The firm has a market capitalization of $55.43 billion, a price-to-earnings ratio of 143.44, a price-to-earnings-growth ratio of 2.14 and a beta of 3.11. The company has a 50-day simple moving average of $43.95 and a 200-day simple moving average of $35.20. Advanced Micro Devices has a 12-month low of $19.02 and a 12-month high of $49.96.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. Advanced Micro Devices had a net margin of 3.47% and a return on equity of 16.54%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices will post 0.46 EPS for the current fiscal year.

In other news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $42.39, for a total value of $1,271,700.00. Following the sale, the executive vice president now directly owns 1,365,280 shares in the company, valued at $57,874,219.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Darla M. Smith sold 831 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.63, for a total value of $32,101.53. Following the sale, the chief accounting officer now directly owns 20,779 shares of the company’s stock, valued at $802,692.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 474,896 shares of company stock worth $17,391,343. Company insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group boosted its stake in Advanced Micro Devices by 47.6% in the second quarter. Schroder Investment Management Group now owns 6,382 shares of the semiconductor manufacturer’s stock valued at $194,000 after acquiring an additional 2,057 shares in the last quarter. Keudell Morrison Wealth Management purchased a new position in Advanced Micro Devices during the second quarter valued at $2,995,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Advanced Micro Devices in the second quarter valued at about $292,000. Public Employees Retirement System of Ohio grew its position in shares of Advanced Micro Devices by 2.4% in the second quarter. Public Employees Retirement System of Ohio now owns 346,003 shares of the semiconductor manufacturer’s stock valued at $10,508,000 after purchasing an additional 8,224 shares during the period. Finally, Northern Trust Corp grew its position in shares of Advanced Micro Devices by 2.4% in the second quarter. Northern Trust Corp now owns 10,377,326 shares of the semiconductor manufacturer’s stock valued at $315,158,000 after purchasing an additional 246,225 shares during the period. 70.57% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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