Wedbush Reiterates “Outperform” Rating for Advanced Micro Devices (NASDAQ:AMD)

Wedbush restated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $120.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $115.00.

Other analysts have also recently issued research reports about the company. Morgan Stanley reduced their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price objective for the company from $175.00 to $129.00 in a research report on Friday, January 10th. HSBC restated a “reduce” rating and set a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Citigroup reissued a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, April 16th. Finally, Barclays reduced their price target on Advanced Micro Devices from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $131.13.

Advanced Micro Devices Stock Up 1.1 %

Shares of AMD stock opened at $102.84 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a market cap of $166.22 billion, a PE ratio of 103.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The business’s fifty day moving average is $97.41 and its 200-day moving average is $116.65. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the firm posted $0.62 EPS. The company’s quarterly revenue was up 35.9% on a year-over-year basis. Equities analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Advanced Micro Devices during the fourth quarter worth $2,867,193,000. Goldman Sachs Group Inc. boosted its holdings in shares of Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock worth $1,012,538,000 after acquiring an additional 6,200,850 shares during the period. Toronto Dominion Bank increased its stake in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the period. Finally, Northern Trust Corp grew its holdings in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. 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.