Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $290.00 at TD Cowen

Advanced Micro Devices (NASDAQ:AMD) had its price objective raised by equities researchers at TD Cowen from $270.00 to $290.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. TD Cowen’s target price would indicate a potential upside of 15.98% from the company’s previous close.

Several other research analysts also recently weighed in on AMD. JPMorgan Chase & Co. boosted their price target on Advanced Micro Devices from $120.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Rosenblatt Securities boosted their price target on Advanced Micro Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $235.00 price target on Advanced Micro Devices and gave the company a “hold” rating in a report on Tuesday, October 14th. Raymond James Financial boosted their price objective on shares of Advanced Micro Devices from $120.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Finally, KGI Securities set a $260.00 price objective on shares of Advanced Micro Devices and gave the company an “outperform” rating in a research note on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average price target of $252.62.

Advanced Micro Devices Trading Down 3.7%

Shares of AMD opened at $250.05 on Wednesday. The stock has a fifty day moving average of $194.76 and a two-hundred day moving average of $156.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The company has a market capitalization of $405.79 billion, a PE ratio of 143.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The company’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, analysts forecast that Advanced Micro Devices will post 3.87 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 17,200 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $160.93, for a total value of $2,767,996.00. Following the completion of the transaction, the executive vice president directly owned 313,848 shares of the company’s stock, valued at $50,507,558.64. This represents a 5.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $226.01, for a total transaction of $648,196.68. Following the completion of the transaction, the senior vice president directly owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. The trade was a 24.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 274,118 shares of company stock worth $46,180,719 over the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC increased its holdings in Advanced Micro Devices by 2.4% in the third quarter. HHM Wealth Advisors LLC now owns 1,742 shares of the semiconductor manufacturer’s stock valued at $282,000 after buying an additional 40 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. HBK Sorce Advisory LLC now owns 13,404 shares of the semiconductor manufacturer’s stock worth $2,169,000 after acquiring an additional 43 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Advanced Micro Devices by 0.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 8,706 shares of the semiconductor manufacturer’s stock valued at $1,409,000 after purchasing an additional 43 shares in the last quarter. Moseley Investment Management Inc. raised its holdings in Advanced Micro Devices by 0.5% during the third quarter. Moseley Investment Management Inc. now owns 8,883 shares of the semiconductor manufacturer’s stock worth $1,437,000 after purchasing an additional 44 shares during the last quarter. Finally, OneAscent Family Office LLC boosted its position in Advanced Micro Devices by 2.6% during the third quarter. OneAscent Family Office LLC now owns 1,755 shares of the semiconductor manufacturer’s stock worth $284,000 after purchasing an additional 44 shares in the last quarter. 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.