Wedbush Reiterates Outperform Rating for Advanced Micro Devices (NASDAQ:AMD)

Wedbush reiterated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) in a report released on Wednesday, MarketBeat reports. They currently have a $120.00 target price on the semiconductor manufacturer's stock, up from their prior target price of $115.00.

A number of other research firms also recently weighed in on AMD. Cantor Fitzgerald restated an "overweight" rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Monday, April 28th. Wolfe Research lowered Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 16th. 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 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, StockNews.com cut Advanced Micro Devices from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Two 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $131.13.

Advanced Micro Devices Stock Up 1.4 %

Shares of Advanced Micro Devices stock traded up $1.38 on Wednesday, hitting $103.08. 8,961,648 shares of the company traded hands, compared to its average volume of 42,411,920. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $166.61 billion, a PE ratio of 104.12, a PEG ratio of 1.11 and a beta of 1.97. The company has a 50-day moving average price of $97.37 and a 200 day moving average price of $117.01.

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

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of Advanced Micro Devices by 44.5% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 40,932 shares of the semiconductor manufacturer's stock valued at $4,205,000 after purchasing an additional 12,600 shares during the period. Manchester Capital Management LLC raised its stake in shares of Advanced Micro Devices by 4.0% in the 1st quarter. Manchester Capital Management LLC now owns 10,613 shares of the semiconductor manufacturer's stock valued at $1,090,000 after purchasing an additional 406 shares during the period. Delta Financial Group Inc. bought a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $234,000. J. Safra Sarasin Holding AG grew its holdings in shares of Advanced Micro Devices by 93.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 6,743 shares of the semiconductor manufacturer's stock valued at $694,000 after acquiring an additional 3,265 shares in the last quarter. Finally, Aviso Wealth Management increased its position in shares of Advanced Micro Devices by 40.1% during the 1st quarter. Aviso Wealth Management now owns 2,514 shares of the semiconductor manufacturer's stock worth $258,000 after purchasing an additional 719 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

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.