The Goldman Sachs Group Reiterates “Buy” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMDGet Rating)‘s stock had its “buy” rating reissued by equities research analysts at The Goldman Sachs Group in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $112.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $99.00. The Goldman Sachs Group’s price objective suggests a potential upside of 9.47% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Truist Financial dropped their price target on shares of Advanced Micro Devices from $144.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, April 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $100.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, June 14th. Wedbush reaffirmed an “outperform” rating and set a $165.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, June 8th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $103.00 to $101.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $115.00 in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.93.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $102.31 on Thursday. The company has a market cap of $165.16 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 0.94 and a beta of 1.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.44 and a quick ratio of 1.96. The firm has a 50 day simple moving average of $88.51 and a 200 day simple moving average of $100.24. Advanced Micro Devices has a one year low of $71.60 and a one year high of $164.46.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Advanced Micro Devices had a net margin of 14.51% and a return on equity of 15.17%. During the same period in the prior year, the business posted $0.58 earnings per share. Research analysts predict that Advanced Micro Devices will post 3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 32,694 shares of the business’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total transaction of $2,517,111.06. Following the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at $2,910,222. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 dated Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total value of $2,517,111.06. Following the sale, the executive vice president now owns 37,800 shares of the company’s stock, valued at $2,910,222. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Devinder Kumar sold 20,000 shares of Advanced Micro Devices stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $102.44, for a total transaction of $2,048,800.00. Following the completion of the sale, the chief financial officer now directly owns 504,370 shares in the company, valued at approximately $51,667,662.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,660 shares of company stock worth $7,462,511. 1.00% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

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

Advanced Micro Devices Company Profile

(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.