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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was upgraded by research analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $120.00 price target on the semiconductor manufacturer's stock. Bank of America's target price suggests a potential upside of 16.69% from the company's previous close.

Other analysts have also issued reports about the stock. UBS Group lowered their target price on shares of Advanced Micro Devices from $175.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Piper Sandler restated an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Wolfe Research downgraded shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 16th. Morgan Stanley dropped their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Hsbc Global Res cut Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $131.13.

Advanced Micro Devices Trading Up 1.1 %

AMD stock traded up $1.14 during mid-day trading on Wednesday, reaching $102.84. 31,640,225 shares of the stock traded hands, compared to its average volume of 42,550,442. Advanced Micro Devices has a one year low of $76.48 and a one year high of $187.28. The stock has a market capitalization of $166.22 billion, a PE ratio of 103.88, a PEG ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business has a 50-day moving average price of $97.41 and a two-hundred day moving average price of $116.40.

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

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer's stock valued at $416,430,000 after purchasing an additional 588,595 shares in the last quarter. Park National Corp OH lifted its stake in Advanced Micro Devices by 87.1% in the 4th quarter. Park National Corp OH now owns 2,683 shares of the semiconductor manufacturer's stock valued at $324,000 after buying an additional 1,249 shares in the last quarter. Watts Gwilliam & Co. LLC lifted its stake in Advanced Micro Devices by 151.6% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 19,279 shares of the semiconductor manufacturer's stock valued at $2,455,000 after buying an additional 11,616 shares in the last quarter. Sage Capital Advisors llc increased its stake in Advanced Micro Devices by 1.6% during the 4th quarter. Sage Capital Advisors llc now owns 6,386 shares of the semiconductor manufacturer's stock worth $771,000 after buying an additional 98 shares in the last quarter. Finally, Jacobs & Co. CA raised its holdings in shares of Advanced Micro Devices by 13.2% during the fourth quarter. Jacobs & Co. CA now owns 89,030 shares of the semiconductor manufacturer's stock valued at $10,753,000 after acquiring an additional 10,404 shares during the last quarter. Institutional investors and hedge funds 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.