Advanced Micro Devices (NASDAQ:AMD) Earns “Overweight” Rating from Piper Sandler

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “overweight” rating reissued by Piper Sandler in a report issued on Wednesday, Benzinga reports. They currently have a $175.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $195.00. Piper Sandler’s price target suggests a potential upside of 18.62% from the company’s previous close.

Several other equities research analysts have also recently weighed in on AMD. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Morgan Stanley cut their target price on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday. The Goldman Sachs Group increased their target price on Advanced Micro Devices from $157.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Cantor Fitzgerald cut their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Advanced Micro Devices Trading Down 6.9 %

Shares of AMD traded down $10.85 during mid-day trading on Wednesday, hitting $147.53. 27,007,271 shares of the company’s stock traded hands, compared to its average volume of 71,677,898. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 1 year low of $81.02 and a 1 year high of $227.30. The firm has a market capitalization of $238.43 billion, a P/E ratio of 283.68, a PEG ratio of 2.44 and a beta of 1.64. The business’s 50-day moving average price is $177.04 and its 200-day moving average price is $151.59.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts forecast that Advanced Micro Devices will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the sale, the director now owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock worth $62,580,844 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the stock. Tradewinds Capital Management LLC raised its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 71 shares in the last quarter. Peoples Bank KS bought a new position in Advanced Micro Devices in the third quarter worth about $26,000. Spartan Planning & Wealth Management purchased a new stake in shares of Advanced Micro Devices during the third quarter valued at about $27,000. Northwest Bank & Trust Co purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Finally, Bare Financial Services Inc bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $29,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

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.