Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $700.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective increased by Bank of America from $650.00 to $700.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts also recently weighed in on AMD. UBS Group dropped their target price on Advanced Micro Devices from $730.00 to $700.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. Jefferies Financial Group reissued a “buy” rating on shares of Advanced Micro Devices in a research note on Thursday, October 29th. Stifel Nicolaus boosted their price objective on shares of Advanced Micro Devices from $700.00 to $725.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Finally, Truist Financial upped their price objective on shares of Advanced Micro Devices from $594.00 to $605.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $640.11.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $51.24 during midday trading on Thursday, hitting $534.06. 49,061,909 shares of the company’s stock were exchanged, compared to its average volume of 33,352,236. The company has a current ratio of 2.72, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $554.55 and its two-hundred day moving average price is $422.13. The company has a market cap of $875.90 billion, a price-to-earnings ratio of 116.10, a PEG ratio of 5.63 and a beta of 2.49. Advanced Micro Devices has a 12-month low of $188.22 and a 12-month high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same period last year, the firm posted $1.20 earnings per share. Advanced Micro Devices’s quarterly revenue was up 44.7% on a year-over-year basis. As a group, research analysts forecast that Advanced Micro Devices will post 6.93 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Paul Grasby sold 15,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the completion of the transaction, the executive vice president directly owned 117,687 shares in the company, valued at approximately $60,598,213.17. This represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Forrest Norrod sold 17,262 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the completion of the sale, the executive vice president owned 353,317 shares of the company’s stock, valued at $191,038,501.90. This trade represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 232,588 shares of company stock worth $116,292,222 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vista Cima Wealth Management LLC boosted its stake in Advanced Micro Devices by 52.0% in the 3rd quarter. Vista Cima Wealth Management LLC now owns 2,129 shares of the semiconductor manufacturer’s stock worth $1,302,000 after purchasing an additional 728 shares in the last quarter. Oxford Financial Group LTD. LLC raised its holdings in Advanced Micro Devices by 37.9% in the third quarter. Oxford Financial Group LTD. LLC now owns 2,811 shares of the semiconductor manufacturer’s stock worth $1,720,000 after buying an additional 773 shares during the last quarter. Cornermen Financial LLC bought a new position in shares of Advanced Micro Devices in the third quarter worth approximately $1,723,000. Octavia Wealth Advisors LLC lifted its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Octavia Wealth Advisors LLC now owns 6,228 shares of the semiconductor manufacturer’s stock worth $3,810,000 after buying an additional 80 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Advanced Micro Devices by 14.1% in the third quarter. Empowered Funds LLC now owns 286,964 shares of the semiconductor manufacturer’s stock worth $175,553,000 after buying an additional 35,556 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Recent Advanced Micro Devices Headlines

Investors following AMD have been watching these headlines:

• Positive Sentiment: Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips strengthens AMD’s role in hyperscaler AI systems and could support data-center growth. How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Positive Sentiment: Analyst support and Lisa Su’s CEO of the Year recognition reinforce the bullish longer-term narrative around AMD’s recent gains and competitive position, though neither fully offset Friday’s sector weakness. AMD’s Lisa Su named CEO of the year
• Neutral Sentiment: Director Nora Denzel disclosed a sale of 9,000 AMD shares. The transaction is a modest insider sale and does not by itself establish a change in the company’s outlook. SEC filing

About Advanced Micro Devices

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.