Advanced Micro Devices (NASDAQ:AMD) Stock Rating Reaffirmed by Bank of America

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America in a research note issued on Thursday, Benzinga reports. They presently have a $180.00 target price on the semiconductor manufacturer’s stock. Bank of America‘s price target indicates a potential upside of 10.73% from the company’s previous close.

Several other research firms have also weighed in on AMD. Cantor Fitzgerald reduced their target price on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, TD Cowen raised Advanced Micro Devices to a “strong-buy” rating in a research 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Up 1.7 %

Shares of Advanced Micro Devices stock traded up $2.78 during trading on Thursday, hitting $162.56. 22,635,482 shares of the stock traded hands, compared to its average volume of 58,447,375. The stock has a market cap of $262.75 billion, a P/E ratio of 239.06, a PEG ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a fifty day moving average price of $147.05 and a two-hundred day moving average price of $158.18.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 16,756 shares of the 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 completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after buying an additional 116,020 shares during the last quarter. Chapin Davis Inc. lifted its position in shares of Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after buying an additional 10,544 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Advanced Micro Devices by 77.4% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 49,093 shares of the semiconductor manufacturer’s stock valued at $7,237,000 after buying an additional 21,417 shares during the last quarter. Sycomore Asset Management increased its stake in shares of Advanced Micro Devices by 28.6% during the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after purchasing an additional 30,677 shares during the period. Finally, Bank of New Hampshire increased its stake in shares of Advanced Micro Devices by 811.3% during the first quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock worth $1,456,000 after purchasing an additional 7,180 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

About Advanced Micro Devices

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.