HSBC Upgrades Advanced Micro Devices (NASDAQ:AMD) to Buy

Advanced Micro Devices (NASDAQ:AMD) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $225.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $180.00. HSBC’s target price points to a potential upside of 40.34% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Advanced Micro Devices in a report on Monday, March 4th. New Street Research raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Wednesday, January 24th. Truist Financial lifted their price objective on Advanced Micro Devices from $154.00 to $174.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group lifted their target price on Advanced Micro Devices from $157.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Evercore ISI started coverage on Advanced Micro Devices in a report on Tuesday. They issued an “outperform” rating and a $200.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $185.15.

Advanced Micro Devices Stock Down 1.8 %

AMD opened at $160.32 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The business has a 50 day simple moving average of $180.87 and a 200-day simple moving average of $147.77. The stock has a market capitalization of $259.10 billion, a P/E ratio of 308.31, a P/E/G ratio of 2.49 and a beta of 1.64. Advanced Micro Devices has a 12 month low of $81.02 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. On average, equities analysts anticipate that Advanced Micro Devices will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the transaction, the director now directly owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the transaction, the director now directly owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the transaction, the executive vice president now directly owns 258,690 shares of the company’s stock, valued at $45,513,918.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 324,943 shares of company stock valued at $59,919,994. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. Washburn Capital Management Inc. bought a new stake in Advanced Micro Devices during the fourth quarter valued at about $231,000. Independence Bank of Kentucky lifted its stake in shares of Advanced Micro Devices by 84.1% in the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 1,677 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Advanced Micro Devices by 135.6% in the third quarter. Meridian Wealth Management LLC now owns 205,154 shares of the semiconductor manufacturer’s stock valued at $21,135,000 after buying an additional 118,090 shares during the period. Gendell Jeffrey L bought a new stake in shares of Advanced Micro Devices in the third quarter valued at about $3,085,000. Finally, Sara Bay Financial bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $315,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

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.