Advanced Micro Devices (NASDAQ:AMD) Given Buy Rating at Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report issued on Friday, The Fly reports. Royal Bank of Canada currently has a $50.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $44.00.

A number of other equities analysts also recently weighed in on the company. Craig Hallum downgraded Advanced Micro Devices from a buy rating to a hold rating and set a $33.00 price target on the stock. in a research report on Wednesday, July 31st. Rosenblatt Securities boosted their price target on Advanced Micro Devices from $42.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, October 30th. Citigroup reissued a sell rating on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Argus boosted their price target on Advanced Micro Devices to $40.00 and gave the stock a buy rating in a research report on Thursday, October 31st. Finally, KeyCorp reissued a hold rating on shares of Advanced Micro Devices in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $35.00.

Shares of NASDAQ:AMD traded up $0.21 during midday trading on Friday, hitting $38.56. The company had a trading volume of 62,936,800 shares, compared to its average volume of 54,610,016. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $32.12 and a 200 day simple moving average of $30.79. The stock has a market cap of $41.78 billion, a price-to-earnings ratio of 110.17, a PEG ratio of 3.38 and a beta of 3.07. Advanced Micro Devices has a 12 month low of $16.03 and a 12 month high of $39.37.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. Advanced Micro Devices had a return on equity of 16.54% and a net margin of 3.47%. Advanced Micro Devices’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. Equities analysts forecast that Advanced Micro Devices will post 0.46 EPS for the current fiscal year.

In related news, EVP Mark E. Wallace sold 12,559 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $13.42, for a total value of $168,541.78. Also, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $31.30, for a total value of $187,800.00. Following the completion of the sale, the senior vice president now owns 33,113 shares of the company’s stock, valued at $1,036,436.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 703,023 shares of company stock valued at $22,638,367. Corporate insiders own 1.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. National Pension Service boosted its stake in shares of Advanced Micro Devices by 13.3% in the second quarter. National Pension Service now owns 1,360,300 shares of the semiconductor manufacturer’s stock valued at $41,312,000 after buying an additional 159,600 shares during the period. Lyons Wealth Management LLC. bought a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $669,000. California Public Employees Retirement System boosted its stake in shares of Advanced Micro Devices by 36.8% in the third quarter. California Public Employees Retirement System now owns 2,165,140 shares of the semiconductor manufacturer’s stock valued at $62,767,000 after buying an additional 582,977 shares during the period. Brighton Jones LLC boosted its stake in shares of Advanced Micro Devices by 4.0% in the third quarter. Brighton Jones LLC now owns 11,187 shares of the semiconductor manufacturer’s stock valued at $324,000 after buying an additional 431 shares during the period. Finally, Varma Mutual Pension Insurance Co bought a new stake in shares of Advanced Micro Devices in the third quarter valued at approximately $11,596,000. Institutional investors and hedge funds own 61.06% 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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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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