Advanced Micro Devices’ (AMD) Outperform Rating Reaffirmed at Raymond James

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reissued by equities researchers at Raymond James in a report issued on Wednesday,Benzinga reports. They currently have a $120.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $150.00. Raymond James’ price target points to a potential upside of 18.04% from the stock’s previous close.

Several other research firms have also commented on AMD. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Susquehanna lowered their target price on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Finally, Melius Research reissued a “hold” rating and issued a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.13.

Advanced Micro Devices Trading Up 1.3 %

NASDAQ AMD opened at $101.66 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The company has a 50-day simple moving average of $97.37 and a 200-day simple moving average of $117.01. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.28. The firm has a market capitalization of $164.31 billion, a PE ratio of 102.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC increased its stake in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at $29,000. 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.