Advanced Micro Devices, Inc. (NASDAQ:AMD) Receives Consensus Recommendation of “Buy” from Analysts

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) has been assigned an average rating of “Buy” from the twenty-nine brokerages that are currently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $143.00.

Several analysts have recently commented on AMD shares. Piper Sandler raised shares of Advanced Micro Devices from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $98.00 to $140.00 in a report on Tuesday, May 17th. Craig Hallum dropped their price objective on shares of Advanced Micro Devices from $160.00 to $130.00 in a report on Wednesday, May 4th. Cowen dropped their price objective on shares of Advanced Micro Devices from $160.00 to $145.00 in a report on Tuesday, February 15th. Raymond James raised shares of Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and set a $160.00 price objective on the stock in a report on Monday, April 25th. Finally, Barclays cut shares of Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $148.00 to $115.00 in a research note on Thursday, March 31st.

NASDAQ:AMD opened at $105.65 on Tuesday. The company has a market cap of $171.21 billion, a PE ratio of 39.28, a P/E/G ratio of 0.81 and a beta of 1.86. Advanced Micro Devices has a twelve month low of $78.96 and a twelve month high of $164.46. The company has a current ratio of 2.40, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $97.29 and its two-hundred day moving average is $117.43.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last released its earnings results on Tuesday, May 3rd. The semiconductor manufacturer reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.22. The company had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.57 billion. Advanced Micro Devices had a net margin of 17.98% and a return on equity of 20.66%. Advanced Micro Devices’s revenue was up 70.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, analysts expect that Advanced Micro Devices will post 4.01 EPS for the current fiscal year.

In related news, CFO Devinder Kumar sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.44, for a total value of $2,048,800.00. Following the completion of the sale, the chief financial officer now owns 504,370 shares of the company’s stock, valued at $51,667,662.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 20,180 shares of the company’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $125.00, for a total transaction of $2,522,500.00. The disclosure for this sale can be found here. Insiders have sold 79,146 shares of company stock valued at $8,560,700 in the last ninety days. Insiders own 1.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $2,259,000. State of Alaska Department of Revenue lifted its position in shares of Advanced Micro Devices by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 420,313 shares of the semiconductor manufacturer’s stock worth $60,481,000 after purchasing an additional 1,307 shares in the last quarter. RFG Advisory LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $415,000. United Capital Financial Advisers LLC lifted its position in shares of Advanced Micro Devices by 4.8% during the third quarter. United Capital Financial Advisers LLC now owns 21,885 shares of the semiconductor manufacturer’s stock worth $2,252,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Advanced Micro Devices by 86.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 66,031 shares of the semiconductor manufacturer’s stock worth $9,503,000 after purchasing an additional 30,645 shares in the last quarter. 69.61% of the stock is owned by institutional investors.

About Advanced Micro Devices (Get Rating)

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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