Evercore ISI Initiates Coverage on Advanced Micro Devices (NASDAQ:AMD)

Evercore ISI began coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report released on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $200.00 price objective on the semiconductor manufacturer’s stock.

Several other equities analysts have also issued reports on AMD. Wedbush restated an outperform rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, January 31st. DZ Bank restated a hold rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, March 7th. TD Cowen boosted their price target on Advanced Micro Devices from $130.00 to $185.00 and gave the company an outperform rating in a research note on Thursday, January 18th. Cantor Fitzgerald restated an overweight rating and set a $190.00 price target on shares of Advanced Micro Devices in a research note on Monday, March 4th. Finally, Barclays boosted their price target on Advanced Micro Devices from $200.00 to $235.00 and gave the company an overweight rating in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of Moderate Buy and a consensus target price of $185.59.

Advanced Micro Devices Trading Up 0.7 %

Advanced Micro Devices stock opened at $155.08 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The business’s 50-day simple moving average is $180.16 and its 200-day simple moving average is $148.28. The firm has a market capitalization of $250.63 billion, a PE ratio of 298.24, a PEG ratio of 2.49 and a beta of 1.64. Advanced Micro Devices has a 52 week low of $81.02 and a 52 week high of $227.30.

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

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the transaction, the director now owns 2,197 shares in the company, valued at $457,151.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 341,143 shares of company stock worth $62,580,844. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its stake in Advanced Micro Devices by 1.3% during the 1st quarter. SeaCrest Wealth Management LLC now owns 35,704 shares of the semiconductor manufacturer’s stock worth $6,444,000 after buying an additional 451 shares during the period. Naviter Wealth LLC raised its stake in Advanced Micro Devices by 10.6% during the 1st quarter. Naviter Wealth LLC now owns 9,630 shares of the semiconductor manufacturer’s stock worth $1,738,000 after buying an additional 921 shares during the period. State of Michigan Retirement System raised its stake in Advanced Micro Devices by 18.5% during the 1st quarter. State of Michigan Retirement System now owns 913,140 shares of the semiconductor manufacturer’s stock worth $164,813,000 after buying an additional 142,400 shares during the period. Woodmont Investment Counsel LLC acquired a new stake in Advanced Micro Devices during the 1st quarter worth $286,000. Finally, Synergy Asset Management LLC raised its stake in Advanced Micro Devices by 8.1% during the 1st quarter. Synergy Asset Management LLC now owns 26,697 shares of the semiconductor manufacturer’s stock worth $4,819,000 after buying an additional 1,997 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Advanced Micro Devices

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.