Advanced Micro Devices (NASDAQ:AMD) Raised to Buy at Bank of America

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $120.00 price target on the semiconductor manufacturer's stock. Bank of America's price target indicates a potential upside of 20.83% from the stock's current price.

AMD has been the topic of several other reports. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Tuesday, February 18th. Loop Capital lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday. Barclays reduced their price target on shares of Advanced Micro Devices from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $132.00 price objective on shares of Advanced Micro Devices in a research note on Monday, April 28th. Finally, StockNews.com downgraded shares of Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.87.

Advanced Micro Devices Stock Up 0.7 %

Shares of AMD stock opened at $99.32 on Wednesday. The company has a 50 day simple moving average of $97.29 and a two-hundred day simple moving average of $117.51. The stock has a market cap of $160.52 billion, a P/E ratio of 100.57, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the company earned $0.62 earnings per share. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Philip Guido purchased 4,645 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the acquisition, the executive vice president now directly owns 33,522 shares of the company's stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently modified their holdings of AMD. Segment Wealth Management LLC raised its position in Advanced Micro Devices by 0.5% in the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer's stock worth $1,937,000 after acquiring an additional 87 shares in the last quarter. Breakwater Capital Group raised its holdings in shares of Advanced Micro Devices by 5.2% in the 4th quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer's stock worth $213,000 after purchasing an additional 88 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Advanced Micro Devices by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer's stock valued at $575,000 after purchasing an additional 91 shares during the last quarter. TFG Advisers LLC boosted its holdings in Advanced Micro Devices by 2.0% during the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer's stock worth $573,000 after buying an additional 92 shares in the last quarter. Finally, BSW Wealth Partners grew its position in Advanced Micro Devices by 1.1% in the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer's stock worth $1,068,000 after buying an additional 94 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.