Advanced Micro Devices' (AMD) "Outperform" Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) in a research note released on Wednesday morning, MarketBeat reports. Wedbush currently has a $120.00 price objective on the semiconductor manufacturer's stock, up from their previous price objective of $115.00.

Several other equities research analysts have also weighed in on AMD. Bank of America upgraded Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Wednesday. Evercore ISI reduced their target price on shares of Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a research report on Thursday, February 6th. Truist Financial set a $130.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average target price of $131.13.

Advanced Micro Devices Trading Up 1.1 %

Shares of Advanced Micro Devices stock traded up $1.14 during midday trading on Wednesday, reaching $102.84. 31,640,225 shares of the company's stock traded hands, compared to its average volume of 42,550,442. The company has a market cap of $166.22 billion, a PE ratio of 103.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The stock has a 50 day moving average of $97.41 and a 200-day moving average of $116.40. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results 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 net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the company posted $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was 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 of the company's stock, valued at $163,607,893.70. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

About Advanced Micro Devices

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.