Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $120.00

Advanced Micro Devices (NASDAQ:AMD – Get Rating) had its price target increased by Bank of America from $105.00 to $120.00 in a research report released on Tuesday, The Fly reports.

Several other equities analysts also recently commented on AMD. Barclays upped their price objective on Advanced Micro Devices from $85.00 to $90.00 and gave the company an overweight rating in a research report on Wednesday, February 1st. Raymond James decreased their price target on Advanced Micro Devices from $115.00 to $110.00 in a research note on Wednesday, May 3rd. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $85.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday, March 30th. VNET Group reaffirmed a maintains rating on shares of Advanced Micro Devices in a report on Wednesday, May 3rd. Finally, Wedbush reissued an outperform rating and issued a $95.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $97.17.

Advanced Micro Devices Trading Up 11.2 %

Shares of NASDAQ:AMD opened at $120.35 on Tuesday. The stock has a 50 day moving average of $95.31 and a 200 day moving average of $81.58. The company has a current ratio of 2.38, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. Advanced Micro Devices has a 12-month low of $54.57 and a 12-month high of $120.69. The company has a market cap of $193.81 billion, a PE ratio of 523.26, a price-to-earnings-growth ratio of 8.15 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Advanced Micro Devices had a return on equity of 7.19% and a net margin of 1.71%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. As a group, equities research analysts expect that Advanced Micro Devices will post 2.18 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $85.14, for a total transaction of $2,554,200.00. Following the completion of the sale, the executive vice president now directly owns 1,516,945 shares of the company’s stock, valued at approximately $129,152,697.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $85.14, for a total value of $2,554,200.00. Following the completion of the transaction, the executive vice president now directly owns 1,516,945 shares of the company’s stock, valued at approximately $129,152,697.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 12,500 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $94.85, for a total value of $1,185,625.00. Following the transaction, the executive vice president now directly owns 95,942 shares of the company’s stock, valued at approximately $9,100,098.70. The disclosure for this sale can be found here. In the last three months, insiders sold 118,765 shares of company stock valued at $10,474,960. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp increased its stake in Advanced Micro Devices by 234.5% during the 3rd quarter. SouthState Corp now owns 388 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 272 shares during the period. TD Capital Management LLC acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter worth approximately $25,000. Duncker Streett & Co. Inc. bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Eagle Bay Advisors LLC raised its holdings in shares of Advanced Micro Devices by 50.6% in the 1st quarter. Eagle Bay Advisors LLC now owns 679 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 228 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Advanced Micro Devices by 170.9% in the 3rd quarter. HHM Wealth Advisors LLC now owns 493 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 67.17% of the company’s stock.

About Advanced Micro Devices

(Get Rating)

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.