Advanced Micro Devices (NASDAQ:AMD) Lifted to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Advanced Micro Devices (NASDAQ:AMD) to a strong-buy rating in a report issued on Monday, Zacks.com reports.

Several other research analysts have also recently issued reports on AMD. Rosenblatt Securities reaffirmed a buy rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the company an overweight rating in a report on Thursday, July 11th. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. BNP Paribas upgraded Advanced Micro Devices to a strong-buy rating in a report on Wednesday, July 31st. Finally, Susquehanna reiterated a positive rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $193.45.

Advanced Micro Devices Stock Performance

AMD stock opened at $156.74 on Monday. The company has a market capitalization of $253.34 billion, a P/E ratio of 230.50, a PEG ratio of 2.04 and a beta of 1.69. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $147.28 and a 200 day simple moving average of $161.01. Advanced Micro Devices has a fifty-two week low of $93.11 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the business. Cherrydale Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after buying an additional 58 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 1.6% during the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after acquiring an additional 62 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 0.9% during the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after acquiring an additional 63 shares during the period. Delta Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after purchasing an additional 63 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Advanced Micro Devices by 0.3% in the 4th quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock worth $2,793,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds 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.