Advanced Micro Devices (NASDAQ:AMD) Coverage Initiated at Raymond James


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Raymond James began coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a report issued on Wednesday, Benzinga reports. The firm set an “outperform” rating and a $100.00 price target on the semiconductor manufacturer’s stock. Raymond James’ target price indicates a potential upside of 26.49% from the stock’s current price.

AMD has been the subject of a number of other reports. Rosenblatt Securities boosted their target price on Advanced Micro Devices from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, January 27th. Truist boosted their target price on Advanced Micro Devices from $96.00 to $101.00 in a research report on Wednesday, January 27th. Mizuho boosted their price objective on Advanced Micro Devices from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. New Street Research reissued a “sell” rating and set a $70.00 price objective on shares of Advanced Micro Devices in a report on Tuesday, March 16th. Finally, Barclays boosted their target price on Advanced Micro Devices from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Advanced Micro Devices has an average rating of “Buy” and a consensus target price of $90.69.

AMD stock opened at $79.06 on Wednesday. The stock has a 50-day moving average price of $79.94 and a 200-day moving average price of $85.95. Advanced Micro Devices has a 1-year low of $48.42 and a 1-year high of $99.23. The company has a current ratio of 2.28, a quick ratio of 1.74 and a debt-to-equity ratio of 0.10. The firm has a market cap of $96.03 billion, a PE ratio of 106.84, a price-to-earnings-growth ratio of 1.14 and a beta of 2.29.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Monday, January 25th. The semiconductor manufacturer reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Advanced Micro Devices had a return on equity of 33.04% and a net margin of 10.17%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was up 52.5% on a year-over-year basis. On average, analysts forecast that Advanced Micro Devices will post 1.01 earnings per share for the current year.

In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 81,500 shares of the firm’s stock in a transaction dated Thursday, January 28th. The shares were sold at an average price of $88.80, for a total value of $7,237,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 55,000 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $80.54, for a total transaction of $4,429,700.00. Following the completion of the sale, the executive vice president now owns 1,264,795 shares of the company’s stock, valued at $101,866,589.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,000 shares of company stock valued at $18,691,110. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Boenning & Scattergood Inc. lifted its holdings in Advanced Micro Devices by 27.0% in the first quarter. Boenning & Scattergood Inc. now owns 4,750 shares of the semiconductor manufacturer’s stock worth $373,000 after buying an additional 1,010 shares during the period. Cutler Capital Management LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $108,000. Washington Trust Bank increased its stake in shares of Advanced Micro Devices by 1.2% during the first quarter. Washington Trust Bank now owns 178,601 shares of the semiconductor manufacturer’s stock valued at $14,021,000 after purchasing an additional 2,079 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Advanced Micro Devices by 15.3% during the first quarter. Private Advisor Group LLC now owns 67,282 shares of the semiconductor manufacturer’s stock valued at $5,281,000 after purchasing an additional 8,904 shares in the last quarter. Finally, Fortis Capital Management LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $1,979,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Advanced Micro Devices Company Profile

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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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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