Wedbush Reiterates “Outperform” Rating for Advanced Micro Devices (NASDAQ:AMD)

Wedbush restated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $200.00 target price on the semiconductor manufacturer’s stock.

Several other brokerages have also recently weighed in on AMD. KeyCorp upped their target price on Advanced Micro Devices from $195.00 to $270.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Melius Research upgraded Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 target price for the company in a report on Monday, January 8th. UBS Group upped their target price on Advanced Micro Devices from $135.00 to $220.00 and gave the stock a buy rating in a report on Thursday, January 25th. New Street Research upgraded Advanced Micro Devices from a neutral rating to a buy rating and set a $215.00 target price for the company in a report on Wednesday, January 24th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $190.00 target price on shares of Advanced Micro Devices in a report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $185.15.

Advanced Micro Devices Price Performance

AMD opened at $154.02 on Wednesday. The business has a fifty day moving average of $180.44 and a 200 day moving average of $148.23. Advanced Micro Devices has a 52-week low of $81.02 and a 52-week high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $248.92 billion, a P/E ratio of 296.20, a PEG ratio of 2.44 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the previous year, the business earned $0.54 EPS. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices will post 2.63 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the sale, the insider now owns 241,266 shares in the company, valued at approximately $42,248,089.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock valued at $62,580,844 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. O Dell Group LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $27,000. Northwest Bank & Trust Co purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $28,000. Bare Financial Services Inc purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. Finally, Gables Capital Management Inc. purchased a new position in Advanced Micro Devices during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.