Advanced Micro Devices (NASDAQ:AMD) PT Raised to $120.00

Advanced Micro Devices (NASDAQ:AMD – Get Rating) had its price target hoisted by Bank of America from $105.00 to $120.00 in a report published on Tuesday morning, The Fly reports.

AMD has been the topic of a number of other reports. Sanford C. Bernstein lowered shares of Advanced Micro Devices from an outperform rating to a market perform rating and lowered their price target for the stock from $95.00 to $80.00 in a research report on Tuesday, January 24th. Susquehanna raised their price objective on shares of Advanced Micro Devices from $115.00 to $120.00 in a report on Wednesday, May 3rd. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $85.00 to $120.00 and gave the stock an overweight rating in a report on Thursday, March 30th. Stifel Nicolaus lifted their price objective on shares of Advanced Micro Devices from $91.00 to $98.00 in a research note on Tuesday, April 25th. Finally, Wedbush reissued an outperform rating and issued a $95.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $97.17.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $108.12 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $94.47 and a 200 day simple moving average of $81.12. Advanced Micro Devices has a 12 month low of $54.57 and a 12 month high of $110.99. The stock has a market capitalization of $174.11 billion, a price-to-earnings ratio of 470.09, a PEG ratio of 7.97 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.31 billion. Advanced Micro Devices had a net margin of 1.71% and a return on equity of 7.19%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. Research analysts forecast that Advanced Micro Devices will post 2.18 EPS for the current fiscal year.

Insider Activity

In other news, EVP Devinder Kumar sold 16,265 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $94.85, for a total transaction of $1,542,735.25. Following the completion of the transaction, the executive vice president now owns 555,750 shares of the company’s stock, valued at $52,712,887.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Paul Darren Grasby sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $94.85, for a total transaction of $1,185,625.00. Following the completion of the transaction, the executive vice president now owns 95,942 shares in the company, valued at $9,100,098.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Devinder Kumar sold 16,265 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $94.85, for a total value of $1,542,735.25. Following the transaction, the executive vice president now owns 555,750 shares of the company’s stock, valued at approximately $52,712,887.50. The disclosure for this sale can be found here. Insiders have sold a total of 118,765 shares of company stock worth $10,474,960 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in AMD. SouthState Corp boosted its position in shares of Advanced Micro Devices by 234.5% during the third quarter. SouthState Corp now owns 388 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. TD Capital Management LLC bought a new stake in Advanced Micro Devices during the 3rd quarter valued at approximately $25,000. Duncker Streett & Co. Inc. bought a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Eagle Bay Advisors LLC increased its stake in Advanced Micro Devices by 50.6% in the 1st quarter. Eagle Bay Advisors LLC now owns 679 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 228 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in Advanced Micro Devices by 170.9% in the 3rd quarter. HHM Wealth Advisors LLC now owns 493 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 67.17% of the company’s stock.

About Advanced Micro Devices

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.