Bank of America Boosts Advanced Micro Devices (NASDAQ:AMD) Price Target to $40.00

Advanced Micro Devices (NASDAQ:AMD) had its target price boosted by investment analysts at Bank of America from $35.00 to $40.00 in a research note issued to investors on Monday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target indicates a potential upside of 23.42% from the company’s current price.

Several other brokerages have also recently weighed in on AMD. Deutsche Bank boosted their price objective on Advanced Micro Devices from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. ValuEngine lowered Advanced Micro Devices from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Zacks Investment Research lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Nomura assumed coverage on Advanced Micro Devices in a report on Tuesday, April 2nd. They set a “buy” rating and a $33.00 price objective for the company. Finally, Cowen increased their price objective on Advanced Micro Devices from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.13.

Advanced Micro Devices stock opened at $32.41 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.08 and a quick ratio of 1.54. Advanced Micro Devices has a 12 month low of $14.54 and a 12 month high of $34.30. The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of 92.60, a price-to-earnings-growth ratio of 1.94 and a beta of 3.18.



Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Advanced Micro Devices had a return on equity of 25.23% and a net margin of 4.46%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. Advanced Micro Devices’s revenue for the quarter was down 22.8% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices will post 0.55 earnings per share for the current year.

In other news, SVP Harry A. Wolin sold 152,667 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $31.48, for a total transaction of $4,805,957.16. Following the sale, the senior vice president now owns 1,501,474 shares of the company’s stock, valued at approximately $47,266,401.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul Darren Grasby sold 6,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.54, for a total transaction of $165,240.00. Following the sale, the senior vice president now directly owns 28,979 shares in the company, valued at approximately $798,081.66. The disclosure for this sale can be found here. Insiders sold a total of 795,066 shares of company stock worth $22,496,396 over the last three months. Corporate insiders own 1.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AMD. Joseph P. Lucia & Associates LLC acquired a new position in shares of Advanced Micro Devices in the first quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Advanced Micro Devices in the first quarter worth $26,000. Advisory Alpha LLC acquired a new position in shares of Advanced Micro Devices in the first quarter worth $26,000. Peddock Capital Advisors LLC grew its stake in shares of Advanced Micro Devices by 151.5% in the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 615 shares in the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 60.85% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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