Advanced Micro Devices’ (AMD) Buy Rating Reiterated at Bank of America

Bank of America reissued their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note released on Thursday morning, Benzinga reports. Bank of America currently has a $180.00 target price on the semiconductor manufacturer’s stock.

AMD has been the topic of a number of other research reports. KeyCorp lowered their price target on Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating on the stock in a research report on Tuesday, July 9th. Cantor Fitzgerald decreased their price objective on Advanced Micro Devices from $200.00 to $180.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Barclays dropped their target price on Advanced Micro Devices from $235.00 to $180.00 and set an overweight rating for the company in a research report on Monday, July 29th. Robert W. Baird reduced their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. Finally, Truist Financial lowered their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a hold rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $193.45.

Advanced Micro Devices Stock Up 4.9 %

Shares of NASDAQ AMD opened at $170.90 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $148.16 and a 200-day moving average of $157.91. The firm has a market capitalization of $276.23 billion, a price-to-earnings ratio of 251.32, a PEG ratio of 2.14 and a beta of 1.70. Advanced Micro Devices has a 12 month low of $93.11 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Sell-side analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tradewinds Capital Management LLC raised its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $27,000. Finally, Northwest Bank & Trust Co bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Institutional investors own 71.34% of the company’s stock.

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.