BMO Capital Markets Boosts Advanced Micro Devices (NASDAQ:AMD) Price Target to $70.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective boosted by BMO Capital Markets from $50.00 to $70.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a market perform rating on the semiconductor manufacturer’s stock. The analysts noted that the move was a valuation call.

Several other research analysts also recently issued reports on the company. Wedbush upped their price objective on Advanced Micro Devices from $60.00 to $75.00 and gave the company an outperform rating in a research note on Monday, July 27th. Nomura increased their target price on shares of Advanced Micro Devices from $58.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, April 29th. Loop Capital lifted their price target on shares of Advanced Micro Devices from $54.00 to $60.00 and gave the company a buy rating in a research note on Friday, May 1st. Deutsche Bank upped their price objective on shares of Advanced Micro Devices from $50.00 to $70.00 and gave the company a hold rating in a report on Monday, July 27th. Finally, UBS Group upped their price objective on shares of Advanced Micro Devices from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the stock. Advanced Micro Devices presently has a consensus rating of Hold and a consensus price target of $68.97.

Shares of NASDAQ AMD opened at $77.43 on Wednesday. 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 has a market cap of $91.81 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 2.05 and a beta of 2.14. Advanced Micro Devices has a 12 month low of $27.43 and a 12 month high of $78.96. The stock has a 50-day moving average price of $56.61 and a two-hundred day moving average price of $51.94.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Advanced Micro Devices had a return on equity of 28.66% and a net margin of 7.96%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was up 26.1% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices will post 0.83 earnings per share for the current year.

In related news, SVP Forrest Eugene Norrod sold 75,000 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $55.25, for a total value of $4,143,750.00. Following the completion of the sale, the senior vice president now directly owns 752,100 shares of the company’s stock, valued at approximately $41,553,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 43,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $52.90, for a total transaction of $2,274,700.00. Following the completion of the sale, the executive vice president now directly owns 1,378,280 shares of the company’s stock, valued at $72,911,012. The disclosure for this sale can be found here. Insiders sold a total of 461,000 shares of company stock valued at $25,381,930 in the last three months. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AMD. Optimum Investment Advisors boosted its position in shares of Advanced Micro Devices by 1,250.0% during the 1st quarter. Optimum Investment Advisors now owns 540 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Harwood Advisory Group LLC purchased a new stake in Advanced Micro Devices in the first quarter worth $26,000. Whittier Trust Co. increased its stake in Advanced Micro Devices by 58.2% in the second quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 185 shares during the period. Prestige Wealth Management Group LLC increased its stake in Advanced Micro Devices by 202.5% in the first quarter. Prestige Wealth Management Group LLC now owns 605 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 405 shares during the period. Finally, CX Institutional increased its stake in Advanced Micro Devices by 102.6% in the first quarter. CX Institutional now owns 616 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.

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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