Wedbush Reaffirms Outperform Rating for Advanced Micro Devices (NASDAQ:AMD)

Wedbush reaffirmed their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report issued on Wednesday, Marketbeat.com reports. Wedbush currently has a $200.00 price objective on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently issued reports on the company. Bank of America boosted their price objective on Advanced Micro Devices from $165.00 to $195.00 and gave the stock a buy rating in a report on Monday, January 29th. UBS Group lifted their price target on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the company a buy rating in a research report on Thursday, January 25th. TD Cowen lifted their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the company a buy rating in a research report on Thursday, April 18th. Truist Financial dropped their price target on shares of Advanced Micro Devices from $174.00 to $162.00 and set a hold rating for the company in a research report on Wednesday. Finally, Melius Research upgraded shares of Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price target for the company in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $182.62.

Advanced Micro Devices Trading Down 8.9 %

Shares of NASDAQ:AMD opened at $144.27 on Wednesday. Advanced Micro Devices has a 12-month low of $81.02 and a 12-month high of $227.30. The stock has a market cap of $233.16 billion, a PE ratio of 277.45, a P/E/G ratio of 2.44 and a beta of 1.64. The business has a 50 day moving average of $176.64 and a 200-day moving average of $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 (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction on Monday, April 15th. The shares were 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 owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the sale, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’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 completion of the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,143 shares of company stock valued at $62,580,844. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently modified their holdings of the business. Chase Investment Counsel Corp grew its stake in shares of Advanced Micro Devices by 0.7% in the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares during the last quarter. Washburn Capital Management Inc. bought a new stake in Advanced Micro Devices during the fourth quarter valued at $231,000. Pathway Financial Advisors LLC bought a new stake in Advanced Micro Devices during the fourth quarter valued at $229,000. Independence Bank of Kentucky boosted its position in Advanced Micro Devices by 84.1% during the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Advanced Micro Devices during the fourth quarter valued at $1,759,000. 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.