JPMorgan Chase & Co. Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $180.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.78% from the stock’s current price.

Several other brokerages also recently weighed in on AMD. Bank of America boosted their price target on Advanced Micro Devices from $250.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday. 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. Wells Fargo & Company boosted their price target on Advanced Micro Devices from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, TD Cowen boosted their price target on Advanced Micro Devices from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $261.88.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $7.63 during midday trading on Wednesday, reaching $257.68. 54,375,338 shares of the company were exchanged, compared to its average volume of 49,695,137. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $267.08. The stock has a fifty day simple moving average of $194.76 and a 200 day simple moving average of $156.06. The stock has a market cap of $418.17 billion, a P/E ratio of 147.71, a PEG ratio of 2.42 and a beta of 1.90.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%.The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $224.28, for a total value of $3,767,904.00. Following the sale, the executive vice president owned 1,714,505 shares in the company, valued at approximately $384,529,181.40. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares of the company’s stock, valued at $21,738,721.05. This trade represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 274,118 shares of company stock valued at $46,180,719 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Koesten Hirschmann & Crabtree INC. raised its holdings in Advanced Micro Devices by 61.0% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 61 shares during the period. ORG Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 39.7% during the 3rd quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 46 shares during the period. Pinney & Scofield Inc. increased its holdings in shares of Advanced Micro Devices by 81.0% during the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the period. Dogwood Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 2,311.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the period. Finally, Avion Wealth increased its holdings in shares of Advanced Micro Devices by 49.3% during the 2nd quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.