Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at Bank of America

Bank of America reissued their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report released on Thursday, Benzinga reports. The firm currently has a $180.00 price target on the semiconductor manufacturer’s stock.

Several other equities analysts have also recently weighed in on the stock. BNP Paribas raised shares of Advanced Micro Devices to a strong-buy rating in a report on Wednesday, July 31st. KeyCorp dropped their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating on the stock in a research note on Tuesday, July 9th. Truist Financial cut their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a hold rating for the company in a research report on Wednesday, July 31st. Edward Jones assumed coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a buy rating on the stock. Finally, TD Cowen raised Advanced Micro Devices to a strong-buy rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

Shares of AMD opened at $170.90 on Thursday. The firm has a fifty day simple moving average of $148.16 and a two-hundred day simple moving average of $157.91. The firm has a market cap of $276.23 billion, a PE ratio of 251.32, a P/E/G ratio of 2.14 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 1-year low of $93.11 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices will post 2.56 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently made changes to their positions in AMD. Handelsbanken Fonder AB increased its stake in Advanced Micro Devices by 8.4% during the third quarter. Handelsbanken Fonder AB now owns 675,253 shares of the semiconductor manufacturer’s stock worth $110,796,000 after acquiring an additional 52,155 shares during the last quarter. waypoint wealth counsel increased its position in shares of Advanced Micro Devices by 7.3% during the 3rd quarter. waypoint wealth counsel now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $277,000 after purchasing an additional 114 shares during the last quarter. Wright Investors Service Inc. raised its holdings in Advanced Micro Devices by 1.7% during the 3rd quarter. Wright Investors Service Inc. now owns 7,727 shares of the semiconductor manufacturer’s stock valued at $1,268,000 after buying an additional 128 shares during the period. ZRC Wealth Management LLC lifted its position in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Finally, Cullen Investment Group LTD. lifted its position in Advanced Micro Devices by 7.2% in the third quarter. Cullen Investment Group LTD. now owns 17,807 shares of the semiconductor manufacturer’s stock worth $2,922,000 after buying an additional 1,194 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.