Advanced Micro Devices (NASDAQ:AMD) Receives “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report released on Wednesday morning, Benzinga reports. They currently have a $180.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $200.00.

A number of other brokerages also recently issued reports on AMD. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Citigroup increased their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Barclays lowered their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 7th. Finally, Truist Financial decreased their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $141.86 on Wednesday. Advanced Micro Devices has a one year low of $105.91 and a one year high of $227.30. The company has a market cap of $229.60 billion, a P/E ratio of 127.80, a P/E/G ratio of 2.03 and a beta of 1.70. The firm has a 50-day moving average of $154.75 and a 200-day moving average of $155.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. Equities research analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares during the last quarter. Legal & General Group Plc raised its position in shares of Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after acquiring an additional 975,220 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Finally, GQG Partners LLC grew its position in Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after acquiring an additional 382,582 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.