Advanced Micro Devices’ (AMD) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report released on Wednesday, Benzinga reports. Wedbush currently has a $200.00 price target on the semiconductor manufacturer’s stock.

AMD has been the subject of a number of other research reports. Wells Fargo & Company raised their price objective on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Citigroup upped their price objective on Advanced Micro Devices from $136.00 to $192.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Melius Research raised shares of Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price target on the stock in a research note on Monday, January 8th. Melius upgraded shares of Advanced Micro Devices from a hold rating to a buy rating in a research note on Monday, January 8th. Finally, Evercore ISI initiated coverage on shares of Advanced Micro Devices in a research report on Tuesday. They set an outperform rating and a $200.00 target price on the stock. Four 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 company has an average rating of Moderate Buy and a consensus price target of $185.59.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $146.64 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. Advanced Micro Devices has a one year low of $81.02 and a one year high of $227.30. The company has a 50-day simple moving average of $179.64 and a 200-day simple moving average of $148.58. The stock has a market capitalization of $236.99 billion, a price-to-earnings ratio of 282.01, a PEG ratio of 2.35 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 EPS for the quarter, meeting the consensus estimate of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the prior year, the business earned $0.54 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post 2.63 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction on 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 $42,248,089.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the completion of the transaction, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The disclosure for this sale can be found here. In the last three months, insiders 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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its holdings in Advanced Micro Devices by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 125,510 shares of the semiconductor manufacturer’s stock valued at $22,653,000 after acquiring an additional 716 shares during the last quarter. Kesler Norman & Wride LLC purchased a new position in shares of Advanced Micro Devices in the 1st quarter worth about $1,051,000. FORVIS Wealth Advisors LLC lifted its stake in shares of Advanced Micro Devices by 37.1% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 5,029 shares of the semiconductor manufacturer’s stock valued at $908,000 after purchasing an additional 1,361 shares in the last quarter. Veracity Capital LLC grew its holdings in shares of Advanced Micro Devices by 17.1% during the 1st quarter. Veracity Capital LLC now owns 4,822 shares of the semiconductor manufacturer’s stock worth $870,000 after purchasing an additional 703 shares during the period. Finally, Willis Johnson & Associates Inc. increased its position in Advanced Micro Devices by 29.6% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,840 shares of the semiconductor manufacturer’s stock worth $513,000 after purchasing an additional 648 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.