Advanced Micro Devices (NASDAQ:AMD) Given New $180.00 Price Target at Bank of America

Advanced Micro Devices (NASDAQ:AMD) had its price target dropped by investment analysts at Bank of America from $195.00 to $180.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Bank of America‘s price objective indicates a potential upside of 24.89% from the company’s previous close.

Several other research firms also recently weighed in on AMD. Robert W. Baird dropped their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. Citigroup lifted their target price on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $225.00 in a research report on Tuesday, April 16th. Finally, Morgan Stanley downgraded shares of Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 price objective for the company. in a report on Monday, June 10th. Four analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $193.38.

Advanced Micro Devices Trading Up 4.1 %

Shares of Advanced Micro Devices stock traded up $5.69 during trading hours on Wednesday, hitting $144.13. The company’s stock had a trading volume of 70,989,602 shares, compared to its average volume of 63,554,938. The business has a fifty day moving average of $162.06 and a 200 day moving average of $168.26. Advanced Micro Devices has a 1-year low of $93.11 and a 1-year high of $227.30. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $232.96 billion, a PE ratio of 213.03, a P/E/G ratio of 1.62 and a beta of 1.68.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts forecast that Advanced Micro Devices will post 2.6 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, 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 accessible through the SEC website. In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after buying an additional 600,638 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares during the period. Jennison Associates LLC grew its stake in Advanced Micro Devices by 5.9% in the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after buying an additional 1,490,997 shares during the last quarter. Finally, Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth $3,426,529,000. 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.