Advanced Micro Devices (NASDAQ:AMD) upgraded at BMO Capital Markets

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Advanced micro-systems (NASDAQ: AMDGet a rating) was upgraded by analysts at BMO Capital Markets from a “market performance” rating to an “outperform” rating in a research report released Thursday, Market assessments reports. The brokerage currently has a price target of $115.00 on the semiconductor maker’s stock, up from its previous price target of $100.00. BMO Capital Markets’ price target suggests a potential upside of 41.78% from the stock’s previous close.

A number of other equity research analysts have also recently released reports on the stock. Craig Hallum cut his price target on Advanced Micro Devices stock from $160.00 to $130.00 in a Wednesday, May 4 report. Deutsche Bank Aktiengesellschaft cut its price target on Advanced Micro Devices shares from $125.00 to $115.00 and set a “hold” rating for the company in a Wednesday, April 20 research note. Raymond James upgraded Advanced Micro Devices shares from an ‘outperform’ rating to a ‘strong buy’ rating and set a target price of $160.00 for the company in a Monday research note April 25. Piper Sandler moved Advanced Micro Devices shares from a “neutral” rating to an “overweight” rating and raised her target price for the company from $98.00 to $140.00 in a research note from the Tuesday, May 17. Finally, Susquehanna Bancshares cut its target price on Advanced Micro Devices shares from $140.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday. Nine investment analysts have assigned the stock a hold rating, twenty-one have issued a buy rating and one has assigned the stock a high buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.79.

Advanced micro devices are trading up 3.2%

Shares of NASDAQ: AMD opened at $81.11 on Thursday. The stock has a market capitalization of $131.44 billion, a PE ratio of 30.15, a P/E/G ratio of 0.68 and a beta of 1.94. Advanced Micro Devices has a 1 year minimum of $71.60 and a 1 year maximum of $164.46. The company has a fifty-day moving average price of $88.98 and a 200-day moving average price of $105.07. The company has a current ratio of 2.40, a quick ratio of 1.96 and a debt ratio of 0.03.

Advanced micro-systems (NASDAQ: AMDGet a rating) last released its quarterly results on Tuesday, May 3. The semiconductor maker reported earnings per share (EPS) of $1.02 for the quarter, beating consensus analyst estimates of $0.83 from $0.19. Advanced Micro Devices had a net margin of 17.98% and a return on equity of 20.66%. The company posted revenue of $5.89 billion in the quarter, versus $5.57 billion expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.47. The company’s quarterly revenue increased by 70.9% compared to the same quarter last year. Analysts expect Advanced Micro Devices to post 4 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CFO Devinder Kumar sold 20,000 shares of the company in a transaction that took place on Tuesday, May 31. 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 CFO now owns 504,370 shares of the company, valued at $51,667,662.80. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. In related news, EVP Paul Darren Grasby sold 32,694 shares of the company in a transaction that took place on Tuesday, July 12. The shares were sold at an average price of $76.99, for a total value of $2,517,111.06. Following the completion of the sale, the executive vice president now owns 37,800 shares of the company, valued at $2,910,222. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CFO Devinder Kumar sold 20,000 shares of the company in a transaction that took place on Tuesday, May 31. The shares were sold at an average price of $102.44, for a total transaction of $2,048,800.00. Following completion of the transaction, the CFO now directly owns 504,370 shares of the company, valued at $51,667,662.80. Disclosure of this sale can be found here. Insiders sold a total of 81,660 shares of the company valued at $7,462,511 during the last quarter. Insiders of the company own 1.00% of the shares of the company.

Hedge funds weigh in on advanced micro-devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 36.9% in the first quarter. Vanguard Group Inc. now owns 133,525,143 shares of the semiconductor maker valued at $14,599,640,000 after acquiring 36,016,818 additional shares in the last quarter. BlackRock Inc. increased its stake in Advanced Micro Devices by 34.6% in the first quarter. BlackRock Inc. now owns 119,569,366 shares of the semiconductor maker valued at $13,073,716,000 after acquiring 30,732,205 additional shares in the last quarter. State Street Corp increased its stake in Advanced Micro Devices by 37.5% in the first quarter. State Street Corp now owns 65,577,025 shares of the semiconductor maker valued at $7,170,192,000 after acquiring an additional 17,896,122 shares in the last quarter. Fisher Asset Management LLC increased its stake in Advanced Micro Devices by 22.2% in the first quarter. Fisher Asset Management LLC now owns 24,387,801 shares of the semiconductor maker valued at $2,666,562,000 after acquiring 4,431,251 additional shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Advanced Micro Devices by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 19,885,441 shares of the semiconductor maker valued at $2,853,395,000 after acquiring an additional 593,949 shares in the last quarter. 69.61% of the shares are held by institutional investors.

Advanced Micro Devices Company Profile

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Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The Company operates in two segments, Computing and Graphics; and Enterprise, embedded and semi-personalized. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data centers and professional GPUs, as well as development services; and embedded servers and processors, and semi-custom System-on-Chip (SoC) products, game console technology and development services.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ: AMD)



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