Advanced Micro Devices (NASDAQ:AMD) PT Raised to $82.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective raised by Piper Sandler from $60.00 to $82.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other research firms also recently weighed in on AMD. Northland Securities increased their price objective on Advanced Micro Devices from $67.50 to $80.00 and gave the company an outperform rating in a report on Wednesday. Rosenblatt Securities raised their price objective on Advanced Micro Devices from $65.00 to $70.00 and gave the stock a buy rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed a hold rating on shares of Advanced Micro Devices in a research note on Thursday, April 16th. Wells Fargo & Co reissued a neutral rating and set a $72.00 target price (up previously from $55.00) on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Wedbush boosted their price target on shares of Advanced Micro Devices from $60.00 to $75.00 and gave the stock an outperform rating in a research report on Monday, July 27th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Advanced Micro Devices currently has a consensus rating of Buy and a consensus price target of $68.97.

NASDAQ:AMD opened at $77.43 on Wednesday. The stock’s 50-day moving average is $56.61 and its 200-day moving average is $51.94. Advanced Micro Devices has a 1-year low of $27.43 and a 1-year high of $78.96. The company has a current ratio of 2.10, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The stock has a market cap of $90.91 billion, a P/E ratio of 113.87, a price-to-earnings-growth ratio of 2.03 and a beta of 2.14.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Advanced Micro Devices had a net margin of 7.96% and a return on equity of 28.66%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts forecast that Advanced Micro Devices will post 0.85 EPS for the current year.

In other news, CEO Lisa T. Su sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $55.41, for a total value of $8,311,500.00. Following the transaction, the chief executive officer now owns 2,753,670 shares in the company, valued at $152,580,854.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 75,000 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $55.25, for a total value of $4,143,750.00. Following the transaction, the senior vice president now directly owns 752,100 shares in the company, valued at approximately $41,553,525. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,000 shares of company stock worth $25,381,930. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Optimum Investment Advisors boosted its holdings in Advanced Micro Devices by 1,250.0% during the 1st quarter. Optimum Investment Advisors now owns 540 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Harwood Advisory Group LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at about $26,000. Whittier Trust Co. boosted its holdings in Advanced Micro Devices by 58.2% during the second quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in Advanced Micro Devices by 202.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 605 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 405 shares in the last quarter. Finally, CX Institutional increased its stake in Advanced Micro Devices by 102.6% in the 1st quarter. CX Institutional now owns 616 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 69.37% 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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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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