Advanced Micro Devices (NASDAQ:AMD) Given New $90.00 Price Target at Cowen

Advanced Micro Devices (NASDAQ:AMD) had its price target hoisted by Cowen from $65.00 to $90.00 in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other research analysts have also weighed in on the stock. Wells Fargo & Co reiterated a neutral rating and set a $72.00 price objective (up from $55.00) on shares of Advanced Micro Devices in a report on Wednesday. Cfra increased their price objective on shares of Advanced Micro Devices from $53.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, April 29th. Royal Bank of Canada reissued a buy rating and set a $66.00 target price on shares of Advanced Micro Devices in a research report on Thursday, April 30th. Northland Securities increased their target price on shares of Advanced Micro Devices from $52.50 to $67.50 in a research report on Wednesday, April 29th. Finally, Barclays increased their target price on shares of Advanced Micro Devices from $50.00 to $55.00 and gave the stock an equal weight rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $68.97.

NASDAQ:AMD opened at $77.43 on Wednesday. The firm has a market cap of $91.81 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 2.05 and a beta of 2.14. The company has a current ratio of 2.10, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $56.61 and its two-hundred day moving average is $51.94. Advanced Micro Devices has a 12-month low of $27.43 and a 12-month high of $78.96.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.86 billion. Advanced Micro Devices had a net margin of 7.96% and a return on equity of 28.66%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, equities research analysts forecast that Advanced Micro Devices will post 0.83 earnings per share for the current fiscal year.

In other news, SVP Forrest Eugene Norrod sold 75,000 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $55.25, for a total transaction of $4,143,750.00. Following the transaction, the senior vice president now directly owns 752,100 shares of the company’s stock, valued at $41,553,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 43,000 shares of the firm’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $54.36, for a total value of $2,337,480.00. Following the transaction, the executive vice president now directly owns 1,378,280 shares in the company, valued at $74,923,300.80. The disclosure for this sale can be found here. Insiders sold 461,000 shares of company stock worth $25,381,930 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC acquired a new position in shares of Advanced Micro Devices during the second quarter valued at $77,000. Whittier Trust Co. increased its holdings in shares of Advanced Micro Devices by 58.2% during the second quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Trustcore Financial Services LLC increased its holdings in shares of Advanced Micro Devices by 54.4% during the second quarter. Trustcore Financial Services LLC now owns 531 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 187 shares during the period. Optimum Investment Advisors increased its holdings in shares of Advanced Micro Devices by 1,250.0% during the first quarter. Optimum Investment Advisors now owns 540 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Finally, Harwood Advisory Group LLC acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $26,000. 69.37% of the stock is currently owned by 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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