Advanced Micro Devices (AMD) PT Lowered to $26.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by analysts at Cowen from $33.00 to $26.00 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Cowen’s price target points to a potential upside of 54.30% from the company’s current price.

A number of other research firms have also recently weighed in on AMD. KeyCorp assumed coverage on Advanced Micro Devices in a report on Tuesday, September 25th. They issued a “sector weight” rating on the stock. Mizuho upped their price target on Advanced Micro Devices from $20.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. FBN Securities assumed coverage on Advanced Micro Devices in a report on Thursday, September 13th. They issued an “outperform” rating on the stock. Northland Securities cut Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a report on Thursday, September 27th. Finally, Morgan Stanley restated an “underweight” rating and issued a $28.00 price target (up previously from $11.00) on shares of Advanced Micro Devices in a report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.52.

NASDAQ AMD opened at $16.85 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 1.76. Advanced Micro Devices has a 12-month low of $9.04 and a 12-month high of $34.14. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 210.63, a price-to-earnings-growth ratio of 3.38 and a beta of 3.10.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices will post 0.37 EPS for the current year.

In other Advanced Micro Devices news, CEO Lisa T. Su sold 615,777 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $19.51, for a total transaction of $12,013,809.27. Following the transaction, the chief executive officer now owns 3,172,907 shares of the company’s stock, valued at approximately $61,903,415.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Devinder Kumar sold 113,519 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $19.37, for a total value of $2,198,863.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,740,400 shares of company stock worth $59,709,371. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of Advanced Micro Devices by 5.0% during the 3rd quarter. Arizona State Retirement System now owns 212,631 shares of the semiconductor manufacturer’s stock worth $6,568,000 after purchasing an additional 10,175 shares during the period. GWM Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter worth $624,000. Columbus Circle Investors purchased a new position in shares of Advanced Micro Devices during the 3rd quarter worth $15,639,000. Checchi Capital Advisers LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter worth $274,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Advanced Micro Devices by 450.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 6,052 shares of the semiconductor manufacturer’s stock worth $187,000 after purchasing an additional 4,952 shares during the period. 66.23% 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 in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's 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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