Advanced Micro Devices (NASDAQ:AMD) Hits New 12-Month High Following Analyst Upgrade

Posted by Shane Hupp on Nov 21st, 2019

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) hit a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $36.00 to $38.00. Mizuho currently has a neutral rating on the stock. Advanced Micro Devices traded as high as $40.47 and last traded at $40.05, with a volume of 1852640 shares trading hands. The stock had previously closed at $39.88.

A number of other brokerages have also issued reports on AMD. Wedbush reaffirmed an “outperform” rating and set a $39.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Craig Hallum lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Wednesday, July 31st. Atlantic Securities initiated coverage on Advanced Micro Devices in a report on Monday, July 22nd. They set a “neutral” rating and a $28.00 price objective on the stock. ValuEngine downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, TheStreet raised Advanced Micro Devices from a “c+” rating to a “b-” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.76.

In related news, CEO Lisa T. Su sold 128,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $30.69, for a total transaction of $3,943,665.00. Following the completion of the sale, the chief executive officer now owns 2,880,767 shares of the company’s stock, valued at approximately $88,410,739.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Darla M. Smith sold 10,486 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.50, for a total transaction of $330,309.00. Following the sale, the chief accounting officer now directly owns 29,599 shares of the company’s stock, valued at approximately $932,368.50. The disclosure for this sale can be found here. Insiders sold a total of 733,854 shares of company stock valued at $23,908,868 over the last quarter. Company insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMD. FinTrust Capital Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 177.2% during the third quarter. FinTrust Capital Advisors LLC now owns 887 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 567 shares during the period. Trust Co. of Vermont grew its position in Advanced Micro Devices by 1,153.8% in the 3rd quarter. Trust Co. of Vermont now owns 978 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 900 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $30,000. Doyle Wealth Management acquired a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $31,000. Finally, Ropes Wealth Advisors LLC raised its holdings in shares of Advanced Micro Devices by 182.9% during the second quarter. Ropes Wealth Advisors LLC now owns 1,160 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 750 shares during the last quarter. 63.99% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $33.21 and a 200-day moving average price of $31.10. The firm has a market capitalization of $42.94 billion, a price-to-earnings ratio of 117.09, a P/E/G ratio of 3.47 and a beta of 3.07.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Advanced Micro Devices had a return on equity of 16.54% and a net margin of 3.47%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 0.46 earnings per share for the current year.

About Advanced Micro Devices (NASDAQ:AMD)

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