Advanced Micro Devices (NASDAQ:AMD) Given “Overweight” Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report issued on Wednesday, Benzinga reports. They currently have a $175.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $195.00.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Advanced Micro Devices from a hold rating to a sell rating in a report on Thursday, April 25th. Melius Research upgraded shares of Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price objective on the stock in a report on Monday, January 8th. Melius upgraded shares of Advanced Micro Devices from a hold rating to a buy rating in a report on Monday, January 8th. Truist Financial cut their price objective on shares of Advanced Micro Devices from $174.00 to $162.00 and set a hold rating on the stock in a report on Wednesday. Finally, Wedbush restated an outperform rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $182.62.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $144.27 on Wednesday. Advanced Micro Devices has a 1 year low of $81.02 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The company’s 50-day moving average is $176.64 and its 200 day moving average is $151.54. The stock has a market capitalization of $233.16 billion, a P/E ratio of 277.45, a P/E/G ratio of 2.44 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. Advanced Micro Devices’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Advanced Micro Devices will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 341,143 shares of company stock worth $62,580,844. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. Chase Investment Counsel Corp increased its stake in shares of Advanced Micro Devices by 0.7% in the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares in the last quarter. Washburn Capital Management Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $231,000. Pathway Financial Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $229,000. Independence Bank of Kentucky increased its stake in shares of Advanced Micro Devices by 84.1% in the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $1,759,000. 71.34% of the stock is owned by hedge funds and other 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.