Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $33.00

Advanced Micro Devices (NASDAQ:AMD) had its price target upped by JPMorgan Chase & Co. from $25.00 to $33.00 in a research note issued to investors on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued research reports about the company. Wedbush raised their target price on Advanced Micro Devices from $35.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, July 24th. Nomura raised their target price on Advanced Micro Devices from $33.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Morgan Stanley upgraded Advanced Micro Devices from an underweight rating to an equal weight rating and raised their target price for the company from $17.00 to $28.00 in a research note on Thursday, June 6th. BidaskClub upgraded Advanced Micro Devices from a sell rating to a hold rating in a research note on Saturday, July 6th. Finally, Bank of America raised their target price on Advanced Micro Devices from $35.00 to $40.00 and gave the company a buy rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $31.08.

AMD opened at $29.44 on Wednesday. The stock has a market cap of $32.41 billion, a PE ratio of 84.11, a PEG ratio of 2.36 and a beta of 3.06. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $31.72. Advanced Micro Devices has a 52 week low of $16.03 and a 52 week high of $34.86.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Sell-side analysts predict that Advanced Micro Devices will post 0.5 EPS for the current fiscal year.

In other Advanced Micro Devices news, CFO Devinder Kumar sold 127,735 shares of Advanced Micro Devices stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $32.05, for a total value of $4,093,906.75. Following the completion of the sale, the chief financial officer now owns 709,990 shares of the company’s stock, valued at approximately $22,755,179.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 50,000 shares of Advanced Micro Devices stock in a transaction on Monday, July 29th. The stock was sold at an average price of $34.12, for a total value of $1,706,000.00. Following the completion of the sale, the senior vice president now directly owns 809,171 shares of the company’s stock, valued at approximately $27,608,914.52. The disclosure for this sale can be found here. In the last three months, insiders sold 1,045,137 shares of company stock valued at $31,793,994. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Tyers Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 1.8% in the 1st quarter. Tyers Asset Management LLC now owns 22,000 shares of the semiconductor manufacturer’s stock worth $561,000 after buying an additional 384 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Advanced Micro Devices by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 46,500 shares of the semiconductor manufacturer’s stock valued at $1,187,000 after purchasing an additional 400 shares in the last quarter. Berman Capital Advisors LLC lifted its position in Advanced Micro Devices by 41.6% during the second quarter. Berman Capital Advisors LLC now owns 1,525 shares of the semiconductor manufacturer’s stock valued at $46,000 after purchasing an additional 448 shares in the last quarter. Centaurus Financial Inc. lifted its position in Advanced Micro Devices by 32.3% during the first quarter. Centaurus Financial Inc. now owns 2,295 shares of the semiconductor manufacturer’s stock valued at $90,000 after purchasing an additional 560 shares in the last quarter. Finally, Peddock Capital Advisors LLC lifted its position in Advanced Micro Devices by 151.5% during the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 60.98% of the company’s stock.

About Advanced Micro Devices

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

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The Fly

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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