Advanced Micro Devices (NASDAQ:AMD) Receives “Overweight” Rating from Piper Sandler

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

Other analysts also recently issued research reports about the stock. TD Cowen boosted their target price on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Melius Research raised shares of Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 target price on the stock in a research report on Monday, January 8th. Northland Securities raised shares of Advanced Micro Devices from a market perform rating to an outperform rating and set a $195.00 target price on the stock in a research report on Wednesday, January 31st. Cantor Fitzgerald dropped their target price on shares of Advanced Micro Devices from $190.00 to $170.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, StockNews.com cut shares of Advanced Micro Devices from a hold rating to a sell rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of Moderate Buy and a consensus price target of $182.62.

Advanced Micro Devices Stock Down 8.9 %

Shares of Advanced Micro Devices stock opened at $144.27 on Wednesday. The firm’s 50 day moving average price is $176.64 and its 200-day moving average price is $151.54. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52-week low of $81.02 and a 52-week high of $227.30. The company has a market cap of $233.16 billion, a P/E ratio of 277.45, a PEG ratio of 2.44 and a beta of 1.64.

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

Insider Buying and Selling

In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s 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 sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 341,143 shares of company stock valued at $62,580,844. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the business. Chase Investment Counsel Corp grew its holdings in shares of Advanced Micro Devices by 0.7% during the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after buying 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 valued at about $231,000. Pathway Financial Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $229,000. Independence Bank of Kentucky grew its holdings 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 valued at $541,000 after purchasing an additional 1,677 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $1,759,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.