Advanced Micro Devices (NASDAQ:AMD) Earns “Buy” Rating from The Goldman Sachs Group

Advanced Micro Devices (NASDAQ:AMD – Get Rating)‘s stock had its “buy” rating reissued by investment analysts at The Goldman Sachs Group in a research report issued to clients and investors on Friday, TipRanks reports. They currently have a $133.00 target price on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 40.27% from the stock’s previous close.

Several other brokerages have also recently issued reports on AMD. Deutsche Bank Aktiengesellschaft reduced their price objective on Advanced Micro Devices from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, April 20th. Wells Fargo & Company cut their price target on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, April 22nd. Raymond James upgraded Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and set a $160.00 price target on the stock in a research note on Monday, April 25th. Barclays cut Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $148.00 to $115.00 in a research note on Thursday, March 31st. Finally, KeyCorp cut their target price on Advanced Micro Devices from $165.00 to $150.00 in a research report on Wednesday, May 4th. Ten investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $142.73.

Shares of AMD traded down $3.98 during midday trading on Friday, hitting $94.82. 102,145,016 shares of the stock were exchanged, compared to its average volume of 115,178,368. The firm has a market cap of $153.66 billion, a P/E ratio of 35.25, a P/E/G ratio of 0.72 and a beta of 1.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.96 and a current ratio of 2.40. Advanced Micro Devices has a 52-week low of $78.96 and a 52-week high of $164.46. The stock has a fifty day simple moving average of $96.11 and a 200 day simple moving average of $116.19.

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 the consensus estimate of $0.91 by $0.22. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Advanced Micro Devices had a return on equity of 20.66% and a net margin of 17.98%. The company’s revenue for the quarter was up 70.9% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that Advanced Micro Devices will post 4.01 EPS for the current fiscal year.

In related news, 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 transaction, the director now directly owns 4,672 shares in the company, valued at approximately $510,556.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 20,180 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $125.00, for a total value of $2,522,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,146 shares of company stock valued at $8,560,700. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Advanced Micro Devices by 36.9% during the 1st quarter. Vanguard Group Inc. now owns 133,525,143 shares of the semiconductor manufacturer’s stock valued at $14,599,640,000 after buying an additional 36,016,818 shares during the period. BlackRock Inc. grew its stake in shares of Advanced Micro Devices by 34.6% during the 1st quarter. BlackRock Inc. now owns 119,569,366 shares of the semiconductor manufacturer’s stock valued at $13,073,716,000 after buying an additional 30,732,205 shares during the period. State Street Corp grew its stake in shares of Advanced Micro Devices by 37.5% during the 1st quarter. State Street Corp now owns 65,577,025 shares of the semiconductor manufacturer’s stock valued at $7,170,192,000 after buying an additional 17,896,122 shares during the period. Fisher Asset Management LLC grew its stake in shares of Advanced Micro Devices by 22.2% during the 1st quarter. Fisher Asset Management LLC now owns 24,387,801 shares of the semiconductor manufacturer’s stock valued at $2,666,562,000 after buying an additional 4,431,251 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 19,885,441 shares of the semiconductor manufacturer’s stock valued at $2,853,395,000 after buying an additional 593,949 shares during the period. Institutional investors 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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