Advanced Micro Devices (NASDAQ:AMD) Rating Reiterated by Wedbush

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $200.00 target price on the semiconductor manufacturer’s stock. Wedbush’s price objective points to a potential upside of 29.22% from the stock’s current price.

A number of other analysts have also commented on AMD. New Street Research upgraded 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 boosted their target price on Advanced Micro Devices from $154.00 to $174.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. StockNews.com upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Barclays boosted their target price on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.15.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $8.69 during midday trading on Wednesday, reaching $154.77. 62,836,424 shares of the company traded hands, compared to its average volume of 74,770,430. The firm has a market cap of $250.13 billion, a PE ratio of 298.68, a PEG ratio of 2.44 and a beta of 1.64. The stock’s 50-day simple moving average is $180.78 and its 200-day simple moving average is $148.19. Advanced Micro Devices has a 12 month low of $81.02 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

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

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the sale, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the transaction, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. Insiders have sold 324,943 shares of company stock valued at $59,919,994 over the last ninety days. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC increased its holdings in shares of Advanced Micro Devices by 6.5% during the first quarter. MCF Advisors LLC now owns 1,764 shares of the semiconductor manufacturer’s stock valued at $318,000 after acquiring an additional 107 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of Advanced Micro Devices by 13.9% during the first quarter. Trifecta Capital Advisors LLC now owns 20,817 shares of the semiconductor manufacturer’s stock valued at $3,757,000 after acquiring an additional 2,540 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $404,000. Occidental Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 7.1% during the first quarter. Occidental Asset Management LLC now owns 3,444 shares of the semiconductor manufacturer’s stock valued at $622,000 after acquiring an additional 229 shares in the last quarter. Finally, Independence Bank of Kentucky increased its holdings in shares of Advanced Micro Devices by 43.1% during the first quarter. Independence Bank of Kentucky now owns 5,255 shares of the semiconductor manufacturer’s stock valued at $948,000 after acquiring an additional 1,584 shares in the last quarter. 71.34% of the stock is 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.