Advanced Micro Devices (NASDAQ:AMD) Given New $198.00 Price Target at Evercore ISI

Advanced Micro Devices (NASDAQ:AMD) had its target price boosted by Evercore ISI from $193.00 to $198.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other analysts have also commented on AMD. Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Piper Sandler increased their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird reduced their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Down 10.6 %

Shares of AMD stock opened at $148.60 on Wednesday. Advanced Micro Devices has a 1 year low of $94.07 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The business’s fifty day moving average is $155.17 and its 200-day moving average is $156.03. The stock has a market cap of $240.18 billion, a PE ratio of 218.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. Equities analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in the business. Maia Wealth LLC raised its holdings in Advanced Micro Devices by 11.0% during the third quarter. Maia Wealth LLC now owns 1,375 shares of the semiconductor manufacturer’s stock valued at $211,000 after buying an additional 136 shares in the last quarter. Centennial Wealth Advisory LLC bought a new position in shares of Advanced Micro Devices in the 3rd quarter valued at approximately $223,000. Umpqua Bank lifted its holdings in Advanced Micro Devices by 20.5% in the 3rd quarter. Umpqua Bank now owns 2,156 shares of the semiconductor manufacturer’s stock worth $354,000 after purchasing an additional 367 shares during the last quarter. Harvest Portfolios Group Inc. boosted its position in Advanced Micro Devices by 4.4% during the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after purchasing an additional 6,168 shares during the period. Finally, Invictus Private Wealth LLC boosted its position in Advanced Micro Devices by 93.3% during the third quarter. Invictus Private Wealth LLC now owns 52,472 shares of the semiconductor manufacturer’s stock worth $8,610,000 after purchasing an additional 25,333 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Micro Devices

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.