Raymond James Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $130.00

Advanced Micro Devices (NASDAQ:AMDGet Rating) had its price objective decreased by Raymond James from $160.00 to $130.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the semiconductor manufacturer’s stock.

A number of other research firms have also recently weighed in on AMD. Susquehanna lowered their price target on Advanced Micro Devices from $140.00 to $120.00 and set a positive rating for the company in a report on Wednesday, July 13th. UBS Group raised their target price on Advanced Micro Devices from $110.00 to $120.00 and gave the company a neutral rating in a report on Wednesday. Piper Sandler upgraded Advanced Micro Devices from a neutral rating to an overweight rating and raised their target price for the company from $98.00 to $140.00 in a report on Tuesday, May 17th. Wells Fargo & Company lowered their target price on Advanced Micro Devices from $140.00 to $130.00 and set an overweight rating for the company in a report on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Advanced Micro Devices from $85.00 to $95.00 and gave the company a hold rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $125.93.

Advanced Micro Devices Stock Down 1.5 %

Shares of AMD opened at $102.31 on Wednesday. Advanced Micro Devices has a 52-week low of $71.60 and a 52-week high of $164.46. The company has a market capitalization of $165.16 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 0.94 and a beta of 1.96. The stock has a fifty day simple moving average of $88.51 and a two-hundred day simple moving average of $100.24. The company has a quick ratio of 1.96, a current ratio of 2.44 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Advanced Micro Devices had a return on equity of 15.17% and a net margin of 14.51%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, equities analysts forecast that Advanced Micro Devices will post 3.97 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 32,694 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $76.99, for a total value of $2,517,111.06. Following the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at approximately $2,910,222. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 32,694 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $76.99, for a total value of $2,517,111.06. Following the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at approximately $2,910,222. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devinder Kumar sold 28,966 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $100.00, for a total value of $2,896,600.00. Following the completion of the transaction, the chief financial officer now owns 524,370 shares in the company, valued at $52,437,000. The disclosure for this sale can be found here. Insiders have sold a total of 81,660 shares of company stock valued at $7,462,511 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Advanced Micro Devices by 3.1% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 4,469 shares of the semiconductor manufacturer’s stock valued at $342,000 after buying an additional 134 shares in the last quarter. Wills Financial Group Inc. boosted its stake in shares of Advanced Micro Devices by 4.2% in the second quarter. Wills Financial Group Inc. now owns 10,230 shares of the semiconductor manufacturer’s stock valued at $782,000 after buying an additional 415 shares in the last quarter. Stokes Family Office LLC boosted its stake in shares of Advanced Micro Devices by 5.5% in the second quarter. Stokes Family Office LLC now owns 4,682 shares of the semiconductor manufacturer’s stock valued at $358,000 after buying an additional 243 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Advanced Micro Devices by 13.9% in the second quarter. Meridian Wealth Management LLC now owns 121,581 shares of the semiconductor manufacturer’s stock valued at $9,297,000 after buying an additional 14,877 shares in the last quarter. Finally, Wade Financial Advisory Inc boosted its stake in shares of Advanced Micro Devices by 59.1% in the second quarter. Wade Financial Advisory Inc now owns 4,956 shares of the semiconductor manufacturer’s stock valued at $379,000 after buying an additional 1,840 shares in the last quarter. 69.61% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Micro Devices

(Get Rating)

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

Recommended Stories

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.