Advanced Micro Devices (NASDAQ:AMD) Upgraded by Raymond James to “Strong-Buy”

Raymond James upgraded shares of Advanced Micro Devices (NASDAQ:AMD – Get Rating) from an outperform rating to a strong-buy rating in a research note released on Monday morning, MarketBeat reports. The firm currently has $160.00 price objective on the semiconductor manufacturer’s stock.

Several other analysts have also commented on the stock. Sanford C. Bernstein upgraded shares of Advanced Micro Devices from a market perform rating to an outperform rating and set a $150.00 price objective for the company in a report on Tuesday, February 22nd. KeyCorp raised their target price on shares of Advanced Micro Devices from $155.00 to $165.00 and gave the company an overweight rating in a research note on Wednesday, February 2nd. Truist Financial decreased their target price on shares of Advanced Micro Devices from $144.00 to $111.00 and set a hold rating for the company in a research note on Friday, April 8th. Jefferies Financial Group raised their target price on shares of Advanced Micro Devices from $145.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Advanced Micro Devices from $125.00 to $115.00 and set a hold rating for the company in a research note on Wednesday, April 20th. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $145.56.

NASDAQ AMD opened at $90.69 on Monday. The company has a 50-day simple moving average of $108.26 and a two-hundred day simple moving average of $124.76. Advanced Micro Devices has a 12-month low of $72.50 and a 12-month high of $164.46. The firm has a market cap of $108.76 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.81 and a beta of 1.81.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last posted its quarterly earnings results on Tuesday, February 1st. The semiconductor manufacturer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.52 billion. Advanced Micro Devices had a net margin of 19.24% and a return on equity of 44.25%. The company’s revenue was up 48.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Equities analysts expect that Advanced Micro Devices will post 3.7 earnings per share for the current year.

In other news, CEO Lisa T. Su sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $120.00, for a total value of $12,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 9,852 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $130.00, for a total transaction of $1,280,760.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,176 shares of company stock worth $23,266,902. 1.00% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of AMD. MBM Wealth Consultants LLC bought a new position in Advanced Micro Devices during the 4th quarter valued at about $25,000. MCF Advisors LLC grew its holdings in Advanced Micro Devices by 252.8% during the 3rd quarter. MCF Advisors LLC now owns 254 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 182 shares during the last quarter. Cordasco Financial Network grew its holdings in Advanced Micro Devices by 287.5% during the 1st quarter. Cordasco Financial Network now owns 279 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 207 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in Advanced Micro Devices during the 4th quarter valued at about $32,000. Finally, Covington Capital Management grew its holdings in Advanced Micro Devices by 91.3% during the 4th quarter. Covington Capital Management now owns 220 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 68.92% of the company’s stock.

Advanced Micro Devices Company Profile (Get Rating)

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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