Advanced Micro Devices’ (AMD) “Buy” Rating Reaffirmed at Truist Financial

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “buy” rating reissued by investment analysts at Truist Financial in a note issued to investors on Wednesday,Benzinga reports. They presently have a $279.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $273.00. Truist Financial’s price objective would indicate a potential upside of 10.16% from the company’s current price.

Several other equities research analysts have also weighed in on AMD. Barclays lifted their price objective on Advanced Micro Devices from $200.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Citigroup reiterated a “neutral” rating on shares of Advanced Micro Devices in a research report on Wednesday. Raymond James Financial boosted their target price on Advanced Micro Devices from $120.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Piper Sandler boosted their price objective on Advanced Micro Devices from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Benchmark upped their target price on Advanced Micro Devices from $270.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $257.76.

Advanced Micro Devices Stock Up 1.3%

Shares of AMD traded up $3.21 during trading hours on Wednesday, reaching $253.26. The stock had a trading volume of 33,005,493 shares, compared to its average volume of 49,591,465. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $267.08. The firm has a 50-day simple moving average of $194.76 and a 200 day simple moving average of $156.06. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $411.00 billion, a price-to-earnings ratio of 145.78, a P/E/G ratio of 2.42 and a beta of 1.90.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $0.69 earnings per share. Advanced Micro Devices’s revenue was up 31.7% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $163.97, for a total value of $36,893,250.00. Following the transaction, the chief executive officer directly owned 3,359,748 shares of the company’s stock, valued at approximately $550,897,879.56. The trade was a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the transaction, the senior vice president directly owned 9,033 shares in the company, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 274,118 shares of company stock worth $46,180,719. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock valued at $21,944,673,000 after acquiring an additional 2,281,508 shares during the period. State Street Corp raised its stake in shares of Advanced Micro Devices by 0.8% in the 2nd quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock valued at $10,226,628,000 after acquiring an additional 581,330 shares during the period. Geode Capital Management LLC raised its stake in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock valued at $5,181,556,000 after acquiring an additional 514,445 shares during the period. Norges Bank acquired a new position in Advanced Micro Devices during the 2nd quarter worth about $3,094,662,000. Finally, Amundi lifted its stake in Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after acquiring an additional 1,319,064 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.