BNP Paribas Upgrades Advanced Micro Devices (NASDAQ:AMD) to Outperform

BNP Paribas upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a neutral rating to an outperform rating in a report released on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has $110.00 price target on the semiconductor manufacturer’s stock.

AMD has been the subject of a number of other research reports. Morgan Stanley boosted their price target on shares of Advanced Micro Devices from $56.00 to $73.00 and gave the company an equal weight rating in a research note on Wednesday. Cowen boosted their target price on shares of Advanced Micro Devices from $65.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday. Deutsche Bank upped their target price on shares of Advanced Micro Devices from $50.00 to $70.00 and gave the stock a hold rating in a report on Monday, July 27th. Credit Suisse Group lifted their price target on Advanced Micro Devices from $33.00 to $75.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Sanford C. Bernstein reissued a hold rating on shares of Advanced Micro Devices in a research note on Thursday, April 16th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $68.97.

Shares of Advanced Micro Devices stock opened at $77.43 on Wednesday. The business has a 50-day simple moving average of $56.61 and a 200 day simple moving average of $51.94. Advanced Micro Devices has a one year low of $27.43 and a one year high of $78.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.10 and a quick ratio of 1.68. The firm has a market capitalization of $90.91 billion, a price-to-earnings ratio of 113.87, a PEG ratio of 2.03 and a beta of 2.14.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Advanced Micro Devices had a return on equity of 28.66% and a net margin of 7.96%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, sell-side analysts expect that Advanced Micro Devices will post 0.85 EPS for the current year.

In other news, SVP Forrest Eugene Norrod sold 75,000 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 752,100 shares of the company’s stock, valued at $41,553,525. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark D. Papermaster sold 43,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $54.36, for a total transaction of $2,337,480.00. Following the completion of the transaction, the executive vice president now owns 1,378,280 shares of the company’s stock, valued at $74,923,300.80. The disclosure for this sale can be found here. Insiders sold 461,000 shares of company stock valued at $25,381,930 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently made changes to their positions in the business. IBM Retirement Fund increased its holdings in shares of Advanced Micro Devices by 57.3% in the first quarter. IBM Retirement Fund now owns 25,216 shares of the semiconductor manufacturer’s stock worth $1,147,000 after purchasing an additional 9,184 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Advanced Micro Devices by 6.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 216,525 shares of the semiconductor manufacturer’s stock worth $9,856,000 after buying an additional 13,841 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Advanced Micro Devices during the first quarter worth about $11,261,000. Empowered Funds LLC bought a new position in Advanced Micro Devices in the 1st quarter worth about $1,180,000. Finally, US Bancorp DE raised its holdings in shares of Advanced Micro Devices by 20.5% in the 1st quarter. US Bancorp DE now owns 33,187 shares of the semiconductor manufacturer’s stock valued at $1,509,000 after acquiring an additional 5,647 shares in the last quarter. 69.37% 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 (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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