Advanced Micro Devices (NASDAQ:AMD) Coverage Initiated at Morgan Stanley

Morgan Stanley initiated coverage on shares of Advanced Micro Devices (NASDAQ:AMDGet Rating) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $103.00 target price on the semiconductor manufacturer’s stock.

Several other research analysts have also weighed in on AMD. The Goldman Sachs Group reaffirmed a buy rating and set a $133.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 10th. Craig Hallum lowered their target price on shares of Advanced Micro Devices from $160.00 to $130.00 in a research note on Wednesday, May 4th. StockNews.com initiated coverage on shares of Advanced Micro Devices in a research note on Thursday, March 31st. They set a hold rating for the company. Benchmark increased their target price on shares of Advanced Micro Devices from $125.00 to $135.00 and gave the stock a buy rating in a research note on Friday, June 10th. Finally, Mizuho lowered their target price on shares of Advanced Micro Devices from $160.00 to $145.00 in a research note on Wednesday, May 4th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of Moderate Buy and a consensus target price of $139.79.

Shares of AMD opened at $83.75 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12-month low of $79.43 and a 12-month high of $164.46. The firm has a 50-day moving average price of $93.31 and a 200 day moving average price of $112.60. The firm has a market capitalization of $135.72 billion, a P/E ratio of 31.13, a P/E/G ratio of 0.62 and a beta of 1.86.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The semiconductor manufacturer reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.19. Advanced Micro Devices had a net margin of 17.98% and a return on equity of 20.66%. The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Advanced Micro Devices’s quarterly revenue was up 70.9% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices will post 4.01 earnings per share for the current fiscal year.

In other news, EVP Mark D. Papermaster sold 20,180 shares of Advanced Micro Devices stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $125.00, for a total value of $2,522,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Devinder Kumar sold 28,966 shares of Advanced Micro Devices stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,896,600.00. Following the completion of the transaction, the chief financial officer now directly owns 524,370 shares in the company, valued at $52,437,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,146 shares of company stock worth $8,560,700. 1.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. WealthPLAN Partners LLC increased its holdings in shares of Advanced Micro Devices by 4.1% in the 3rd quarter. WealthPLAN Partners LLC now owns 1,948 shares of the semiconductor manufacturer’s stock valued at $282,000 after acquiring an additional 77 shares during the period. Flaharty Asset Management LLC grew its position in Advanced Micro Devices by 3.7% in the 4th quarter. Flaharty Asset Management LLC now owns 2,462 shares of the semiconductor manufacturer’s stock valued at $354,000 after buying an additional 87 shares during the last quarter. Hollencrest Capital Management grew its position in Advanced Micro Devices by 1.9% in the 4th quarter. Hollencrest Capital Management now owns 4,770 shares of the semiconductor manufacturer’s stock valued at $687,000 after buying an additional 89 shares during the last quarter. MV Capital Management Inc. grew its position in Advanced Micro Devices by 13.1% in the 4th quarter. MV Capital Management Inc. now owns 779 shares of the semiconductor manufacturer’s stock valued at $112,000 after buying an additional 90 shares during the last quarter. Finally, Claro Advisors LLC grew its position in Advanced Micro Devices by 3.2% in the 4th quarter. Claro Advisors LLC now owns 2,892 shares of the semiconductor manufacturer’s stock valued at $416,000 after buying an additional 91 shares during the last quarter. 69.61% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Micro Devices (Get Rating)

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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