Piper Sandler Boosts Advanced Micro Devices (NASDAQ:AMD) Price Target to $82.00

Advanced Micro Devices (NASDAQ:AMD) had its price target increased by Piper Sandler from $60.00 to $82.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. Piper Sandler currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other brokerages also recently commented on AMD. Northland Securities upped their target price on Advanced Micro Devices from $67.50 to $80.00 and gave the company an outperform rating in a report on Wednesday. BNP Paribas raised Advanced Micro Devices from a neutral rating to an outperform rating and set a $110.00 target price on the stock in a report on Wednesday. Wells Fargo & Co restated a neutral rating and set a $72.00 target price (up previously from $55.00) on shares of Advanced Micro Devices in a research report on Wednesday. Credit Suisse Group lifted their price objective on Advanced Micro Devices from $33.00 to $75.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Loop Capital boosted their price target on Advanced Micro Devices from $54.00 to $60.00 and gave the company a buy rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $68.97.

Shares of AMD stock 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 capitalization of $91.81 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 2.05 and a beta of 2.14. The firm has a 50-day moving average price of $56.61 and a 200 day moving average price of $51.94. Advanced Micro Devices has a twelve month low of $27.43 and a twelve month high of $78.96.

Advanced Micro Devices (NASDAQ:AMD) last announced 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 return on equity of 28.66% and a net margin of 7.96%. Advanced Micro Devices’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS. As a group, research analysts predict that Advanced Micro Devices will post 0.83 earnings per share for the current year.

In related news, CEO Lisa T. Su sold 150,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $55.41, for a total transaction of $8,311,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,753,670 shares of the company’s stock, valued at $152,580,854.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 75,000 shares of Advanced Micro Devices stock in a transaction on Monday, July 20th. The stock was sold at an average price of $55.25, for a total value of $4,143,750.00. Following the sale, the senior vice president now directly owns 752,100 shares of the company’s stock, valued at $41,553,525. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,000 shares of company stock valued at $25,381,930. 1.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in AMD. Jaffetilchin Investment Partners LLC acquired a new position in Advanced Micro Devices during the 2nd quarter valued at about $77,000. Whittier Trust Co. raised its stake 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 acquiring an additional 185 shares during the last quarter. Trustcore Financial Services LLC raised its stake 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 acquiring an additional 187 shares during the last quarter. Optimum Investment Advisors raised its stake 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 acquiring an additional 500 shares during the last quarter. Finally, Harwood Advisory Group LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at about $26,000. 69.37% of the stock is owned by institutional investors and hedge funds.

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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