Advanced Micro Devices (NASDAQ:AMD) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a strong-buy rating in a research note released on Thursday, BidAskClub reports.

AMD has been the topic of several other reports. Mizuho lifted their target price on Advanced Micro Devices from $36.00 to $38.00 and gave the company a neutral rating in a research note on Tuesday. Wedbush reiterated an outperform rating and issued a $39.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Rosenblatt Securities lifted their target price on Advanced Micro Devices from $42.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated a buy rating and issued a $50.00 target price (up from $44.00) on shares of Advanced Micro Devices in a research note on Friday, November 15th. Finally, ValuEngine downgraded Advanced Micro Devices from a buy rating to a hold rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $35.77.

NASDAQ:AMD traded down $0.37 during mid-day trading on Thursday, reaching $39.15. 56,820,867 shares of the stock were exchanged, compared to its average volume of 68,758,789. The company has a 50 day simple moving average of $33.43 and a 200-day simple moving average of $31.16. Advanced Micro Devices has a 1 year low of $16.03 and a 1 year high of $41.79. The stock has a market capitalization of $45.98 billion, a P/E ratio of 111.86, a P/E/G ratio of 3.72 and a beta of 3.07. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.40.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. Advanced Micro Devices had a return on equity of 16.54% and a net margin of 3.47%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the business posted $0.13 EPS. The company’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Advanced Micro Devices will post 0.46 EPS for the current year.

In related news, CEO Lisa T. Su sold 128,500 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $30.69, for a total value of $3,943,665.00. Following the sale, the chief executive officer now directly owns 2,880,767 shares in the company, valued at $88,410,739.23. The transaction was disclosed in a document filed 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 on Wednesday, September 4th. The stock was sold at an average price of $31.30, for a total value of $187,800.00. Following the transaction, the senior vice president now directly owns 33,113 shares of the company’s stock, valued at $1,036,436.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 791,179 shares of company stock worth $26,212,760. Company insiders own 1.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its holdings in Advanced Micro Devices by 177.2% during the third quarter. FinTrust Capital Advisors LLC now owns 887 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 567 shares during the last quarter. Trust Co. of Vermont raised its holdings in Advanced Micro Devices by 1,153.8% during the third quarter. Trust Co. of Vermont now owns 978 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 900 shares during the last quarter. Doyle Wealth Management acquired a new position in Advanced Micro Devices during the second quarter worth $31,000. Ropes Wealth Advisors LLC raised its holdings in Advanced Micro Devices by 182.9% during the second quarter. Ropes Wealth Advisors LLC now owns 1,160 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 750 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Advanced Micro Devices by 47.8% during the third quarter. Parkside Financial Bank & Trust now owns 1,185 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 383 shares during the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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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