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

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Advanced Micro Devices, Inc. (NASDAQ:AMD) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $32.00 to $42.00. Morgan Stanley currently has an equal weight rating on the stock. Advanced Micro Devices traded as high as $43.23 and last traded at $43.20, with a volume of 10821881 shares changing hands. The stock had previously closed at $42.30.

A number of other research firms also recently issued reports on AMD. Loop Capital raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and boosted their price target for the company from $32.00 to $41.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of Advanced Micro Devices in a research report on Friday, November 15th. Robert W. Baird reaffirmed a “hold” rating and set a $40.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, December 5th. Northland Securities downgraded shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 27th. Finally, ValuEngine lowered Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.31.

In related news, CFO Devinder Kumar sold 128,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.75, for a total transaction of $4,199,860.00. Following the sale, the chief financial officer now directly owns 475,013 shares in the company, valued at $15,556,675.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Darla M. Smith sold 831 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.63, for a total transaction of $32,101.53. Following the sale, the chief accounting officer now owns 20,779 shares in the company, valued at $802,692.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 505,393 shares of company stock worth $18,326,381. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of AMD. Evoke Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at $58,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Advanced Micro Devices during the third quarter worth $71,709,000. Maverick Capital Ltd. purchased a new position in Advanced Micro Devices in the third quarter valued at $7,960,000. Metropolitan Life Insurance Co NY increased its holdings in Advanced Micro Devices by 16.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 208,993 shares of the semiconductor manufacturer’s stock valued at $6,059,000 after buying an additional 29,976 shares during the last quarter. Finally, Partner Investment Management L.P. purchased a new position in Advanced Micro Devices in the third quarter valued at $750,000. Institutional investors own 70.56% of the company’s stock.

The company has a market capitalization of $47.70 billion, a price-to-earnings ratio of 122.37, a PEG ratio of 3.71 and a beta of 3.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.54. The stock has a 50 day simple moving average of $38.74 and a two-hundred day simple moving average of $32.93.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Advanced Micro Devices, Inc. will post 0.46 EPS 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.

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