Advanced Micro Devices (NASDAQ:AMD) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $180.00 price objective on the semiconductor manufacturer’s stock, down from their prior price objective of $200.00.

A number of other analysts have also issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. Barclays dropped their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. KeyCorp reduced their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Evercore ISI upped their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $141.86 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.50. The firm has a fifty day moving average of $154.75 and a 200 day moving average of $155.76. The firm has a market cap of $229.60 billion, a PE ratio of 127.80, a PEG ratio of 2.03 and a beta of 1.70. Advanced Micro Devices has a one year low of $105.91 and a one year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. As a group, research analysts predict that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of the company. 17 Capital Partners LLC boosted its stake in shares of Advanced Micro Devices by 24.6% in the third quarter. 17 Capital Partners LLC now owns 3,015 shares of the semiconductor manufacturer’s stock valued at $495,000 after purchasing an additional 595 shares during the period. Privium Fund Management B.V. lifted its holdings in Advanced Micro Devices by 18.9% during the 3rd quarter. Privium Fund Management B.V. now owns 44,000 shares of the semiconductor manufacturer’s stock worth $7,225,000 after buying an additional 7,000 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $238,000. Sustainable Insight Capital Management LLC grew its stake in shares of Advanced Micro Devices by 121.1% in the third quarter. Sustainable Insight Capital Management LLC now owns 2,739 shares of the semiconductor manufacturer’s stock worth $449,000 after acquiring an additional 1,500 shares in the last quarter. Finally, GSG Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the third quarter worth $516,000. 71.34% of the stock is 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.