Advanced Micro Devices (NASDAQ:AMD) PT Raised to $70.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective boosted by BMO Capital Markets from $50.00 to $70.00 in a report released on Wednesday morning, The Fly reports. They currently have a market perform rating on the semiconductor manufacturer’s stock. The analysts noted that the move was a valuation call.

A number of other research firms have also issued reports on AMD. Mizuho restated a buy rating and issued a $77.00 target price (up from $59.00) on shares of Advanced Micro Devices in a report on Tuesday, July 28th. Bank of America upped their target price on shares of Advanced Micro Devices from $65.00 to $77.00 and gave the company a buy rating in a report on Monday, July 27th. Craig Hallum lowered shares of Advanced Micro Devices from a buy rating to a hold rating and upped their target price for the company from $60.00 to $66.00 in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Advanced Micro Devices from $45.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, April 29th. Finally, UBS Group increased their price objective on shares of Advanced Micro Devices from $48.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, April 29th. One investment 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. The company presently has a consensus rating of Buy and an average target price of $68.97.

Advanced Micro Devices stock opened at $77.43 on Wednesday. Advanced Micro Devices has a 52 week low of $27.43 and a 52 week high of $78.96. The company has a quick ratio of 1.68, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $56.61 and its 200 day simple moving average is $51.94. The firm has a market capitalization of $90.91 billion, a PE ratio of 113.87, a P/E/G ratio of 2.03 and a beta of 2.14.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.86 billion. Advanced Micro Devices had a net margin of 7.96% and a return on equity of 28.66%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, research analysts expect that Advanced Micro Devices will post 0.85 EPS for the current fiscal year.

In other Advanced Micro Devices news, CEO Lisa T. Su sold 150,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 43,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $52.90, for a total transaction of $2,274,700.00. Following the completion of the sale, the executive vice president now directly owns 1,378,280 shares of the company’s stock, valued at approximately $72,911,012. The disclosure for this sale can be found here. Insiders sold 461,000 shares of company stock valued at $25,381,930 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of AMD. Macquarie Group Ltd. grew its position in shares of Advanced Micro Devices by 245.5% during the fourth quarter. Macquarie Group Ltd. now owns 139,866 shares of the semiconductor manufacturer’s stock worth $6,414,000 after buying an additional 99,379 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Advanced Micro Devices by 38.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,150 shares of the semiconductor manufacturer’s stock worth $2,483,000 after buying an additional 14,925 shares in the last quarter. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $407,296,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Advanced Micro Devices by 6.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 216,525 shares of the semiconductor manufacturer’s stock worth $9,856,000 after buying an additional 13,841 shares in the last quarter. Finally, HighMark Wealth Management LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $40,000. 69.37% of the stock is owned by institutional investors.

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.

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