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

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report issued on Wednesday,RTT News reports. They currently have a $150.00 target price on the semiconductor manufacturer’s stock. Wedbush’s price objective would suggest a potential upside of 35.16% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Piper Sandler lowered their target price on shares of Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday. Benchmark reduced their price target on Advanced Micro Devices from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Hsbc Global Res lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, KeyCorp decreased their price objective on shares of Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.04.

Advanced Micro Devices Stock Down 7.1 %

Shares of AMD traded down $8.52 on Wednesday, reaching $110.98. The stock had a trading volume of 76,265,581 shares, compared to its average volume of 41,553,195. The company has a 50-day simple moving average of $125.02 and a 200-day simple moving average of $140.59. The firm has a market capitalization of $180.10 billion, a price-to-earnings ratio of 99.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a 12-month low of $106.50 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank boosted its position in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Shum Financial Group Inc. purchased a new stake in Advanced Micro Devices in the third quarter valued at approximately $858,000. State Street Corp raised its stake in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Advanced Micro Devices

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.