Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $93.00 at Mizuho

Advanced Micro Devices (NASDAQ:AMD) had its target price raised by Mizuho from $90.00 to $93.00 in a research note issued to investors on Wednesday morning, The Fly reports.

A number of other brokerages also recently issued reports on AMD. Exane BNP Paribas raised Advanced Micro Devices from a neutral rating to an outperform rating and set a $110.00 price objective on the stock in a research note on Wednesday, July 29th. Craig Hallum raised Advanced Micro Devices from a hold rating to a buy rating and boosted their price objective for the company from $66.00 to $100.00 in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Advanced Micro Devices from $84.00 to $92.00 and gave the company an outperform rating in a research note on Friday, October 16th. Truist began coverage on Advanced Micro Devices in a research note on Monday, October 12th. They issued a hold rating and a $90.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on Advanced Micro Devices from $50.00 to $70.00 and gave the company a market perform rating in a research report on Wednesday, July 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $74.69.

Shares of AMD opened at $76.40 on Wednesday. The company has a market capitalization of $89.70 billion, a PE ratio of 144.15, a PEG ratio of 1.95 and a beta of 2.30. Advanced Micro Devices has a 12 month low of $32.03 and a 12 month high of $94.28. The stock’s 50-day moving average price is $80.52 and its two-hundred day moving average price is $66.95. The company has a current ratio of 2.10, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 27th. The semiconductor manufacturer reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.56 billion. Advanced Micro Devices had a return on equity of 28.66% and a net margin of 7.96%. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts predict that Advanced Micro Devices will post 0.92 EPS for the current fiscal year.

In related news, CAO Darla M. Smith sold 7,870 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $81.22, for a total value of $639,201.40. Following the transaction, the chief accounting officer now owns 14,283 shares in the company, valued at $1,160,065.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 43,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $84.17, for a total value of $3,619,310.00. Following the completion of the transaction, the executive vice president now owns 1,465,329 shares in the company, valued at approximately $123,336,741.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,635 shares of company stock valued at $36,704,596. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Convergence Investment Partners LLC purchased a new position in Advanced Micro Devices in the third quarter valued at approximately $201,000. Perkins Capital Management Inc. purchased a new position in Advanced Micro Devices in the third quarter valued at approximately $693,000. Empirical Finance LLC lifted its stake in Advanced Micro Devices by 30.3% in the third quarter. Empirical Finance LLC now owns 8,997 shares of the semiconductor manufacturer’s stock valued at $738,000 after purchasing an additional 2,092 shares during the last quarter. Trust Asset Management LLC purchased a new position in Advanced Micro Devices in the third quarter valued at approximately $488,000. Finally, Valeo Financial Advisors LLC lifted its stake in Advanced Micro Devices by 32.0% in the third quarter. Valeo Financial Advisors LLC now owns 3,959 shares of the semiconductor manufacturer’s stock valued at $325,000 after purchasing an additional 959 shares during the last quarter. Institutional investors and hedge funds own 66.08% 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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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