Piper Sandler Reaffirms Overweight Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD - Get Free Report)'s stock had its "overweight" rating reaffirmed by Piper Sandler in a report released on Wednesday,Benzinga reports. They currently have a $125.00 target price on the semiconductor manufacturer's stock, down from their prior target price of $140.00. Piper Sandler's price target indicates a potential upside of 25.98% from the stock's previous close.

A number of other equities analysts have also recently commented on AMD. Hsbc Global Res cut shares of Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a research report on Wednesday, January 8th. StockNews.com lowered shares of Advanced Micro Devices from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Mizuho cut their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Susquehanna decreased their target price on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Finally, HSBC reissued a "reduce" rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $132.77.

Advanced Micro Devices Stock Up 0.6 %

Shares of Advanced Micro Devices stock traded up $0.60 during trading hours on Wednesday, reaching $99.22. 38,254,601 shares of the company's stock were exchanged, compared to its average volume of 42,237,324. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $97.29 and a two-hundred day moving average of $117.51. The stock has a market cap of $160.37 billion, a P/E ratio of 100.06, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

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

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on 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 $163,607,893.70. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Philip Guido bought 4,645 shares of Advanced Micro Devices stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the acquisition, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank lifted its stake in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp increased its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after purchasing an additional 2,238,866 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.

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