Advanced Micro Devices (NASDAQ:AMD) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report released on Tuesday morning, 24/7 WallStreet reports. Wedbush currently has a $41.64 target price on the semiconductor manufacturer’s stock, down from their previous target price of $57.00.

Several other analysts have also recently commented on AMD. Royal Bank of Canada reiterated a buy rating and issued a $66.00 price objective on shares of Advanced Micro Devices in a research note on Friday, March 6th. Susquehanna Bancshares lifted their target price on shares of Advanced Micro Devices from $45.00 to $50.00 and gave the stock a neutral rating in a research report on Monday, January 27th. Goldman Sachs Group lifted their target price on shares of Advanced Micro Devices from $40.00 to $44.00 and gave the stock a neutral rating in a research report on Wednesday, January 29th. Loop Capital restated a buy rating and set a $54.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, January 29th. Finally, Robert W. Baird restated a hold rating and set a $40.00 target price on shares of Advanced Micro Devices in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $46.24.

Shares of NASDAQ AMD traded down $1.59 during midday trading on Tuesday, hitting $44.63. The company had a trading volume of 93,337,276 shares, compared to its average volume of 98,907,872. The company has a quick ratio of 1.53, a current ratio of 1.95 and a debt-to-equity ratio of 0.17. Advanced Micro Devices has a twelve month low of $24.55 and a twelve month high of $59.27. The business has a 50-day simple moving average of $48.01 and a two-hundred day simple moving average of $40.95. The firm has a market capitalization of $52.20 billion, a price-to-earnings ratio of 148.77, a price-to-earnings-growth ratio of 1.92 and a beta of 2.89.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, January 28th. The semiconductor manufacturer reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Advanced Micro Devices had a net margin of 5.07% and a return on equity of 26.22%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business earned $0.08 earnings per share. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. On average, equities analysts forecast that Advanced Micro Devices will post 0.94 EPS for the current year.

In related news, SVP Forrest Eugene Norrod sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $51.41, for a total value of $3,855,750.00. Following the completion of the sale, the senior vice president now directly owns 902,100 shares in the company, valued at $46,376,961. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul Darren Grasby sold 17,922 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.90, for a total transaction of $983,917.80. Following the completion of the sale, the senior vice president now owns 61,098 shares of the company’s stock, valued at $3,354,280.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,922 shares of company stock valued at $12,930,668. Insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Anderson Fisher LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. TRUE Private Wealth Advisors purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $32,000. HighMark Wealth Management LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $40,000. Tarbox Family Office Inc. grew its holdings in Advanced Micro Devices by 129.1% in the fourth quarter. Tarbox Family Office Inc. now owns 912 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 514 shares during the period. Finally, TFO TDC LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 68.99% of the company’s stock.

About Advanced Micro Devices

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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