Advanced Micro Devices (NASDAQ:AMD) Price Target Increased to $110.00 by Analysts at Piper Sandler


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Advanced Micro Devices (NASDAQ:AMD) had its price objective upped by Piper Sandler from $100.00 to $110.00 in a research note published on Wednesday morning, The Fly reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft increased their price target on Advanced Micro Devices from $75.00 to $90.00 and gave the stock a hold rating in a research note on Thursday, December 17th. JPMorgan Chase & Co. upped their price objective on Advanced Micro Devices from $62.00 to $86.00 and gave the company a neutral rating in a report on Wednesday, October 28th. 140166 upped their price objective on Advanced Micro Devices from $85.00 to $95.00 and gave the company a positive rating in a report on Monday, October 26th. Truist initiated coverage on Advanced Micro Devices in a report on Monday, October 12th. They issued a hold rating and a $90.00 price objective for the company. Finally, Craig Hallum upgraded Advanced Micro Devices from a hold rating to a buy rating and upped their price objective for the company from $66.00 to $100.00 in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Advanced Micro Devices presently has a consensus rating of Buy and an average price target of $82.00.

Advanced Micro Devices stock traded down $0.52 during midday trading on Wednesday, hitting $91.26. 1,400,834 shares of the company were exchanged, compared to its average volume of 49,664,734. The company’s fifty day moving average price is $92.72 and its 200-day moving average price is $80.58. The company has a market cap of $109.76 billion, a PE ratio of 123.70, a price-to-earnings-growth ratio of 1.20 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.28 and a quick ratio of 1.74. Advanced Micro Devices has a fifty-two week low of $36.75 and a fifty-two week high of $99.23.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 27th. The semiconductor manufacturer reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. Advanced Micro Devices had a return on equity of 33.04% and a net margin of 10.17%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.18 EPS. The business’s quarterly revenue was up 55.5% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices will post 1.01 EPS for the current fiscal year.

In related news, CEO Lisa T. Su sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $92.89, for a total transaction of $13,933,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,776,039 shares of the company’s stock, valued at approximately $257,866,262.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rick Bergman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $74.88, for a total value of $149,760.00. Following the sale, the executive vice president now directly owns 73,891 shares of the company’s stock, valued at $5,532,958.08. The disclosure for this sale can be found here. Insiders have sold a total of 197,106 shares of company stock valued at $17,820,093 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd increased its stake in shares of Advanced Micro Devices by 16.1% in the 4th quarter. IFM Investors Pty Ltd now owns 113,014 shares of the semiconductor manufacturer’s stock valued at $10,365,000 after buying an additional 15,691 shares during the period. Ballew Advisors Inc acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $321,000. Iron Financial LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $205,000. Sheets Smith Wealth Management increased its stake in shares of Advanced Micro Devices by 1.5% in the 4th quarter. Sheets Smith Wealth Management now owns 9,838 shares of the semiconductor manufacturer’s stock valued at $902,000 after buying an additional 150 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Advanced Micro Devices by 12.3% in the 4th quarter. Global Retirement Partners LLC now owns 36,063 shares of the semiconductor manufacturer’s stock valued at $3,307,000 after buying an additional 3,955 shares during the period. 67.01% of the stock is owned by hedge funds and other institutional investors.

About Advanced Micro Devices

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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