Advanced Micro Devices (NASDAQ:AMD) had its price objective upped by Craig Hallum from $21.00 to $27.00 in a report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.
Several other analysts also recently commented on the company. MED raised Advanced Micro Devices to a positive rating in a research note on Thursday, October 4th. Stifel Nicolaus increased their price objective on Advanced Micro Devices from $21.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, September 19th. FBN Securities initiated coverage on Advanced Micro Devices in a research note on Thursday, September 13th. They issued an outperform rating for the company. Rosenblatt Securities reissued a buy rating and issued a $30.00 price objective (up from $27.00) on shares of Advanced Micro Devices in a research note on Thursday, August 23rd. Finally, Goldman Sachs Group raised Advanced Micro Devices from a sell rating to a neutral rating and increased their price objective for the stock from $13.25 to $21.00 in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Advanced Micro Devices currently has a consensus rating of Hold and a consensus price target of $23.65.
AMD stock traded down $0.17 during trading on Wednesday, reaching $21.03. 85,768,661 shares of the stock were exchanged, compared to its average volume of 115,954,776. Advanced Micro Devices has a twelve month low of $9.04 and a twelve month high of $34.14. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 1.76. The company has a market cap of $21.83 billion, a P/E ratio of 262.88, a price-to-earnings-growth ratio of 4.49 and a beta of 3.64.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Equities analysts predict that Advanced Micro Devices will post 0.35 earnings per share for the current year.
In other news, SVP Forrest Eugene Norrod sold 62,500 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $32.51, for a total value of $2,031,875.00. Following the completion of the transaction, the senior vice president now directly owns 955,790 shares of the company’s stock, valued at $31,072,732.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Devinder Kumar sold 258,622 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $19.51, for a total value of $5,045,715.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,569,209 shares of company stock valued at $56,688,849. 1.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank bought a new position in Advanced Micro Devices during the third quarter valued at $152,865,000. State of Wisconsin Investment Board grew its holdings in Advanced Micro Devices by 7.4% during the second quarter. State of Wisconsin Investment Board now owns 1,061,554 shares of the semiconductor manufacturer’s stock valued at $15,913,000 after purchasing an additional 73,081 shares during the period. OmniStar Financial Group Inc. bought a new position in Advanced Micro Devices during the second quarter valued at $316,000. Barometer Capital Management Inc. bought a new position in Advanced Micro Devices during the third quarter valued at $3,265,000. Finally, Renaissance Technologies LLC grew its holdings in Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after purchasing an additional 6,269,500 shares during the period. 66.62% 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 in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's 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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