UBS Group Raises Advanced Micro Devices (NASDAQ:AMD) Price Target to $31.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective hoisted by UBS Group from $24.00 to $31.00 in a report issued on Wednesday morning, Stock Target Advisor reports. UBS Group currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other brokerages have also recently issued reports on AMD. Bank of America set a $77.00 target price on Citigroup and gave the stock a buy rating in a report on Monday, June 10th. Wedbush raised Sunstone Hotel Investors from a neutral rating to an outperform rating in a report on Wednesday, June 26th. ValuEngine raised XCel Brands from a sell rating to a hold rating in a report on Tuesday. Wells Fargo & Co reduced their target price on WellCare Health Plans from $346.00 to $330.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, MKM Partners lifted their target price on Advanced Micro Devices to $28.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $30.08.

NASDAQ:AMD opened at $33.21 on Wednesday. Advanced Micro Devices has a 52 week low of $15.72 and a 52 week high of $34.30. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $30.24. The company has a market capitalization of $35.76 billion, a PE ratio of 94.89, a PEG ratio of 2.00 and a beta of 3.08.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Advanced Micro Devices had a return on equity of 25.23% and a net margin of 4.46%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was down 22.8% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices will post 0.54 EPS for the current year.

In other Advanced Micro Devices news, insider Darla M. Smith sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $29.45, for a total transaction of $795,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $26.75, for a total value of $6,687,500.00. Following the transaction, the chief executive officer now owns 2,511,264 shares of the company’s stock, valued at approximately $67,176,312. The disclosure for this sale can be found here. Insiders have sold 1,033,066 shares of company stock valued at $30,445,396 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Standard Life Aberdeen plc raised its stake in Advanced Micro Devices by 3.7% in the 4th quarter. Standard Life Aberdeen plc now owns 229,502 shares of the semiconductor manufacturer’s stock valued at $4,014,000 after acquiring an additional 8,234 shares during the period. Great West Life Assurance Co. Can raised its stake in Advanced Micro Devices by 2.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 526,424 shares of the semiconductor manufacturer’s stock valued at $9,241,000 after acquiring an additional 14,803 shares during the period. Bessemer Group Inc. raised its stake in Advanced Micro Devices by 81.7% in the 4th quarter. Bessemer Group Inc. now owns 1,968 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 885 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advanced Micro Devices in the 4th quarter valued at $825,000. Finally, Dimensional Fund Advisors LP raised its stake in Advanced Micro Devices by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,399,337 shares of the semiconductor manufacturer’s stock valued at $62,743,000 after acquiring an additional 136,475 shares during the period. Institutional investors and hedge funds own 60.73% of the company’s stock.

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 (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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