Nomura Raises Advanced Micro Devices (NASDAQ:AMD) Price Target to $37.00

Advanced Micro Devices (NASDAQ:AMD) had its target price increased by Nomura from $33.00 to $37.00 in a research note published on Tuesday, The Fly reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also recently issued reports on AMD. JPMorgan Chase & Co. decreased their price target on shares of Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an overweight rating on the stock in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Shopify from $155.00 to $225.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of Great Portland Estates from a hold rating to a sell rating in a research report on Tuesday, April 16th. Finally, Craig Hallum raised their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the stock. Advanced Micro Devices currently has an average rating of Buy and a consensus target price of $30.08.

Shares of NASDAQ AMD opened at $33.06 on Tuesday. The firm has a market cap of $36.55 billion, a PE ratio of 94.46, a price-to-earnings-growth ratio of 2.05 and a beta of 3.08. Advanced Micro Devices has a 52 week low of $15.72 and a 52 week high of $34.30. The company has a 50-day simple moving average of $30.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 2.08.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Advanced Micro Devices had a net margin of 4.46% and a return on equity of 25.23%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was down 22.8% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post 0.54 earnings per share for the current year.

In related news, insider Darla M. Smith sold 27,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $29.45, for a total value of $795,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Darren Grasby sold 6,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $28.39, for a total transaction of $170,340.00. Following the completion of the sale, the senior vice president now owns 22,979 shares of the company’s stock, valued at approximately $652,373.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,033,066 shares of company stock valued at $30,445,396. Insiders own 1.50% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Standard Life Aberdeen plc raised its holdings in shares of Advanced Micro Devices by 3.7% during the fourth quarter. Standard Life Aberdeen plc now owns 229,502 shares of the semiconductor manufacturer’s stock worth $4,014,000 after purchasing an additional 8,234 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Advanced Micro Devices by 2.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 526,424 shares of the semiconductor manufacturer’s stock valued at $9,241,000 after buying an additional 14,803 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Advanced Micro Devices by 24.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 162,126 shares of the semiconductor manufacturer’s stock valued at $2,992,000 after buying an additional 31,500 shares in the last quarter. Bessemer Group Inc. boosted its position in Advanced Micro Devices by 81.7% during the fourth quarter. Bessemer Group Inc. now owns 1,968 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 885 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advanced Micro Devices during the fourth quarter worth about $825,000. Institutional investors and hedge funds own 60.73% of the company’s stock.

Advanced Micro Devices Company Profile

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 (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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