Advanced Micro Devices (NASDAQ:AMD) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note published on Wednesday, Benzinga reports. They currently have a $200.00 price objective on the semiconductor manufacturer’s stock. Wedbush also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.71 EPS, Q4 2024 earnings at $0.96 EPS and FY2024 earnings at $2.59 EPS.

Several other research analysts have also recently weighed in on the company. Roth Mkm reduced their price objective on Advanced Micro Devices from $190.00 to $180.00 and set a buy rating for the company in a research report on Wednesday, May 1st. StockNews.com raised Advanced Micro Devices from a sell rating to a hold rating in a research report on Thursday, July 18th. Mizuho lowered their price objective on shares of Advanced Micro Devices from $235.00 to $215.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Morgan Stanley downgraded shares of Advanced Micro Devices from an overweight rating to an equal weight rating and set a $176.00 target price for the company. in a research report on Monday, June 10th. Finally, Robert W. Baird lowered their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an outperform rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $132.50 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. Advanced Micro Devices has a 52-week low of $93.11 and a 52-week high of $227.30. The business has a 50 day simple moving average of $160.41 and a 200 day simple moving average of $167.75. The stock has a market cap of $214.16 billion, a price-to-earnings ratio of 194.86, a PEG ratio of 1.68 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 6.00%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. Analysts anticipate that Advanced Micro Devices will post 2.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in Advanced Micro Devices by 70.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 70 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares in the last quarter. Finally, Chelsea Counsel Co. bought a new stake in shares of Advanced Micro Devices during the first quarter worth $34,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

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.