Advanced Micro Devices’ (AMD) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have a $200.00 target price on the semiconductor manufacturer’s stock.

Several other research firms also recently issued reports on AMD. JPMorgan Chase & Co. upped their price target on Advanced Micro Devices from $115.00 to $180.00 and gave the stock a neutral rating in a research note on Wednesday, January 31st. New Street Research raised Advanced Micro Devices from a neutral rating to a buy rating and set a $215.00 price objective for the company in a research report on Wednesday, January 24th. Truist Financial cut their price objective on Advanced Micro Devices from $174.00 to $162.00 and set a hold rating for the company in a research report on Wednesday. Evercore ISI started coverage on Advanced Micro Devices in a research report on Tuesday, April 16th. They set an outperform rating and a $200.00 price objective for the company. Finally, Melius Research raised Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price objective for the company in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $182.62.

Advanced Micro Devices Stock Performance

AMD opened at $144.27 on Wednesday. The company has a market cap of $233.16 billion, a PE ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64. The stock has a 50-day moving average of $176.64 and a 200-day moving average of $151.54. Advanced Micro Devices has a 52-week low of $81.02 and a 52-week high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. As a group, equities research analysts forecast that Advanced Micro Devices will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Victor Peng sold 100,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the sale, the insider now directly owns 241,266 shares in the company, valued at approximately $42,248,089.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the sale, the director now directly owns 2,197 shares in the company, valued at approximately $457,151.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Victor Peng sold 100,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the sale, the insider now owns 241,266 shares in the company, valued at $42,248,089.26. The disclosure for this sale can be found here. Insiders have sold a total of 341,143 shares of company stock worth $62,580,844 in the last three months. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Advanced Micro Devices by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after buying an additional 2,390,558 shares during the last quarter. Fisher Asset Management LLC boosted its position in Advanced Micro Devices by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after buying an additional 600,638 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after buying an additional 2,553,392 shares during the last quarter. Jennison Associates LLC boosted its position in Advanced Micro Devices by 5.9% in the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after buying an additional 1,490,997 shares during the last quarter. Finally, Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter valued at $3,426,529,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.