Stifel Nicolaus Increases Advanced Micro Devices (NASDAQ:AMD) Price Target to $320.00

Key Points

• Stifel Nicolaus raised its price target on AMD from $280 to $320 and kept a "buy" rating, implying roughly a 14.95% upside from current levels.
• AMD beat expectations for the quarter with $1.53 EPS vs. $1.32 expected and $10.27B in revenue (up 34.1% YoY), supporting strong growth metrics despite a high P/E.
• Insiders have been net sellers recently, including CEO Lisa Su's sale of 85,000 shares, with insiders selling about 273,352 shares (~$59.2M) over the past three months.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price increased by analysts at Stifel Nicolaus from $280.00 to $320.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. Stifel Nicolaus' price target would indicate a potential upside of 14.95% from the company's current price.

A number of other research analysts also recently commented on the company. Jefferies Financial Group restated a "buy" rating on shares of Advanced Micro Devices in a research note on Tuesday, February 24th. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Thursday, April 2nd. China Renaissance began coverage on Advanced Micro Devices in a research note on Tuesday, January 13th. They set a "buy" rating and a $291.00 price objective for the company. UBS Group set a $310.00 price target on Advanced Micro Devices in a research report on Wednesday, February 4th. Finally, Truist Financial set a $283.00 price target on Advanced Micro Devices in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.14.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $278.39 on Monday. Advanced Micro Devices has a 52-week low of $83.75 and a 52-week high of $281.05. The company has a quick ratio of 2.01, a current ratio of 2.85 and a debt-to-equity ratio of 0.04. The firm has a market cap of $453.87 billion, a price-to-earnings ratio of 105.05, a PEG ratio of 1.03 and a beta of 1.96. The business's 50 day moving average is $212.61 and its two-hundred day moving average is $221.37.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor manufacturer reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.21. Advanced Micro Devices had a return on equity of 8.84% and a net margin of 12.52%.The business had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same period in the previous year, the business earned $1.09 EPS. The business's quarterly revenue was up 34.1% on a year-over-year basis. Analysts forecast that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, EVP Paul Darren Grasby sold 7,500 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $204.87, for a total value of $1,536,525.00. Following the completion of the sale, the executive vice president owned 129,598 shares in the company, valued at $26,550,742.26. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 85,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $198.77, for a total value of $16,895,450.00. Following the completion of the sale, the chief executive officer owned 3,146,006 shares of the company's stock, valued at approximately $625,331,612.62. This trade represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 273,352 shares of company stock worth $59,173,070. Corporate insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the stock. Weaver Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 13.6% during the first quarter. Weaver Capital Management LLC now owns 7,101 shares of the semiconductor manufacturer's stock valued at $1,445,000 after purchasing an additional 848 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Advanced Micro Devices by 3.5% during the first quarter. CENTRAL TRUST Co now owns 52,269 shares of the semiconductor manufacturer's stock valued at $10,633,000 after purchasing an additional 1,775 shares during the last quarter. EdgeRock Capital LLC lifted its holdings in shares of Advanced Micro Devices by 8.7% during the first quarter. EdgeRock Capital LLC now owns 1,403 shares of the semiconductor manufacturer's stock valued at $286,000 after purchasing an additional 112 shares during the last quarter. Cora Capital Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 3.8% during the first quarter. Cora Capital Advisors LLC now owns 7,902 shares of the semiconductor manufacturer's stock valued at $1,608,000 after purchasing an additional 289 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Advanced Micro Devices by 2,152.8% during the first quarter. Cidel Asset Management Inc. now owns 56,073 shares of the semiconductor manufacturer's stock valued at $11,407,000 after purchasing an additional 53,584 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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