Advanced Micro Devices (NASDAQ:AMD) Stock Rating Upgraded by Piper Sandler

Advanced Micro Devices (NASDAQ:AMD – Get Rating) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage currently has a $140.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $98.00. Piper Sandler’s price target points to a potential upside of 48.56% from the stock’s previous close.

A number of other brokerages have also weighed in on AMD. Zacks Investment Research lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating and set a $117.00 target price on the stock. in a research report on Tuesday, April 5th. Susquehanna cut their price target on shares of Advanced Micro Devices from $160.00 to $140.00 in a report on Wednesday, May 4th. Jefferies Financial Group cut their price target on shares of Advanced Micro Devices from $155.00 to $147.00 in a report on Wednesday, May 4th. Susquehanna Bancshares lifted their price target on shares of Advanced Micro Devices from $175.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, February 2nd. Finally, Rosenblatt Securities lifted their price target on shares of Advanced Micro Devices from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Buy” and an average target price of $142.15.

Shares of NASDAQ:AMD opened at $94.24 on Tuesday. The company’s 50 day simple moving average is $101.24 and its 200 day simple moving average is $122.05. The stock has a market capitalization of $152.72 billion, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of 0.73 and a beta of 1.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.40 and a quick ratio of 1.96. Advanced Micro Devices has a 1 year low of $72.76 and a 1 year high of $164.46.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The semiconductor manufacturer reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.22. Advanced Micro Devices had a net margin of 17.98% and a return on equity of 20.66%. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 70.9% compared to the same quarter last year. As a group, analysts anticipate that Advanced Micro Devices will post 3.98 EPS for the current fiscal year.

In related news, EVP Mark D. Papermaster sold 20,180 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $125.00, for a total value of $2,522,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Edward Caldwell sold 10,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $109.28, for a total transaction of $1,092,800.00. Following the completion of the sale, the director now directly owns 4,672 shares in the company, valued at approximately $510,556.16. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AMD. MBM Wealth Consultants LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at $25,000. Covington Capital Management grew its position in shares of 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 in the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at $32,000. First Command Financial Services Inc. purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at $34,000. Finally, Delos Wealth Advisors LLC grew its position in shares of Advanced Micro Devices by 95.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 235 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 69.61% 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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