Advanced Micro Devices (NASDAQ:AMD) Receives Buy Rating from Bank of America

Bank of America reiterated their buy rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report released on Thursday morning, Benzinga reports. They currently have a $180.00 price objective on the semiconductor manufacturer’s stock.

Several other research analysts also recently commented on AMD. Barclays reduced their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an overweight rating for the company in a research note on Monday, July 29th. BNP Paribas upgraded shares of Advanced Micro Devices to a strong-buy rating in a research report on Wednesday, July 31st. Wedbush restated an outperform rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Susquehanna reiterated a positive rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Citigroup increased their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the company a buy rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of Moderate Buy and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $162.85 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company has a 50 day moving average price of $147.54 and a 200-day moving average price of $158.21. Advanced Micro Devices has a 1-year low of $93.11 and a 1-year high of $227.30. The firm has a market cap of $263.22 billion, a price-to-earnings ratio of 239.49, a price-to-earnings-growth ratio of 2.14 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 5.98%. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several large investors have recently modified their holdings of the business. Cherrydale Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares during the last quarter. Prentice Wealth Management LLC increased its position in Advanced Micro Devices by 1.6% during the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after purchasing an additional 62 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Advanced Micro Devices by 0.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after purchasing an additional 63 shares during the last quarter. Delta Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 5.0% during the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after buying an additional 63 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its position in shares of Advanced Micro Devices by 0.3% in the fourth quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock valued at $2,793,000 after buying an additional 65 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.