Advanced Micro Devices (NASDAQ:AMD) Price Target Increased to $90.00 by Analysts at Cowen

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by Cowen from $65.00 to $90.00 in a research report sent to investors on Wednesday morning, Briefing.com Automated Import reports. Cowen currently has an outperform rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently issued reports on AMD. JPMorgan Chase & Co. raised their target price on Advanced Micro Devices from $45.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, April 29th. UBS Group lifted their price objective on Advanced Micro Devices from $48.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, April 29th. Bank of America lifted their price objective on Advanced Micro Devices from $65.00 to $77.00 and gave the company a buy rating in a report on Monday, July 27th. Nomura lifted their price objective on Advanced Micro Devices from $58.00 to $64.00 and gave the company a buy rating in a report on Wednesday, April 29th. Finally, Mizuho reiterated a buy rating and set a $77.00 price objective (up previously from $59.00) on shares of Advanced Micro Devices in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of Buy and an average price target of $68.97.

Shares of AMD opened at $77.43 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Advanced Micro Devices has a 1 year low of $27.43 and a 1 year high of $78.96. The stock has a market cap of $90.91 billion, a P/E ratio of 113.87, a price-to-earnings-growth ratio of 2.03 and a beta of 2.14. The stock’s 50-day moving average price is $56.61 and its two-hundred day moving average price is $51.94.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. Advanced Micro Devices had a return on equity of 28.66% and a net margin of 7.96%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.08 earnings per share. The company’s revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts forecast that Advanced Micro Devices will post 0.85 EPS for the current year.

In related news, SVP Forrest Eugene Norrod sold 75,000 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $55.25, for a total value of $4,143,750.00. Following the completion of the sale, the senior vice president now directly owns 752,100 shares in the company, valued at approximately $41,553,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 150,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $55.43, for a total value of $8,314,500.00. Following the completion of the sale, the chief executive officer now owns 2,753,670 shares of the company’s stock, valued at $152,635,928.10. The disclosure for this sale can be found here. Insiders have sold a total of 461,000 shares of company stock worth $25,381,930 over the last three months. 1.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Optimum Investment Advisors boosted its stake in Advanced Micro Devices by 1,250.0% in the 1st quarter. Optimum Investment Advisors now owns 540 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Harwood Advisory Group LLC bought a new stake in Advanced Micro Devices in the 1st quarter valued at $26,000. Whittier Trust Co. boosted its stake in Advanced Micro Devices by 58.2% in the 2nd quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Advanced Micro Devices by 202.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 605 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 405 shares during the period. Finally, CX Institutional boosted its stake in Advanced Micro Devices by 102.6% in the 1st quarter. CX Institutional now owns 616 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.

Advanced Micro Devices Company Profile

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 (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.

Featured Story: Does the Dogs of the Dow strategy work?

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.