Advanced Micro Devices (NASDAQ:AMD) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report report published on Tuesday morning, 24/7 WallStreet reports. They currently have a $41.64 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $57.00.

AMD has been the subject of a number of other research reports. Mizuho reissued a buy rating and set a $55.00 target price on shares of Advanced Micro Devices in a research note on Thursday, March 5th. Piper Jaffray Companies upped their price objective on shares of Advanced Micro Devices from $35.00 to $40.00 and gave the company a neutral rating in a research note on Tuesday, December 17th. Summit Redstone raised shares of Advanced Micro Devices to a buy rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Advanced Micro Devices from $34.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley upped their price objective on shares of Advanced Micro Devices from $32.00 to $42.00 and gave the company an equal weight rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $46.24.

Shares of AMD stock traded down $1.59 on Tuesday, reaching $44.63. 93,337,276 shares of the company were exchanged, compared to its average volume of 98,907,872. The company has a market cap of $52.20 billion, a price-to-earnings ratio of 148.77, a P/E/G ratio of 1.92 and a beta of 2.89. The business has a 50-day moving average price of $48.01 and a 200 day moving average price of $40.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.95. Advanced Micro Devices has a 1 year low of $24.55 and a 1 year high of $59.27.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, January 28th. The semiconductor manufacturer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Advanced Micro Devices had a net margin of 5.07% and a return on equity of 26.22%. The company’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices will post 0.94 earnings per share for the current year.

In other news, SVP Forrest Eugene Norrod sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $51.41, for a total value of $3,855,750.00. Following the transaction, the senior vice president now directly owns 902,100 shares in the company, valued at approximately $46,376,961. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul Darren Grasby sold 17,922 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.90, for a total transaction of $983,917.80. Following the completion of the transaction, the senior vice president now owns 61,098 shares in the company, valued at $3,354,280.20. The disclosure for this sale can be found here. In the last three months, insiders sold 242,922 shares of company stock valued at $12,930,668. Corporate insiders own 1.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AMD. Anderson Fisher LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. TRUE Private Wealth Advisors acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $32,000. HighMark Wealth Management LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $40,000. Tarbox Family Office Inc. raised its holdings in shares of Advanced Micro Devices by 129.1% in the 4th quarter. Tarbox Family Office Inc. now owns 912 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 514 shares in the last quarter. Finally, TFO TDC LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $45,000. Institutional investors own 68.99% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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