Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $325.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by equities researchers at Benchmark from $270.00 to $325.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Benchmark’s target price indicates a potential upside of 29.97% from the company’s current price.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus upped their target price on shares of Advanced Micro Devices from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Advanced Micro Devices from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Hsbc Global Res raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Wedbush reissued an “outperform” rating and issued a $290.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.59.

Advanced Micro Devices Trading Down 3.7%

Shares of AMD stock opened at $250.05 on Wednesday. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $267.08. 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 stock’s 50-day moving average price is $194.76 and its 200-day moving average price is $156.06. The stock has a market capitalization of $405.79 billion, a price-to-earnings ratio of 143.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90.

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

Insider Activity

In related news, SVP Ava Hahn sold 2,868 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $226.01, for a total transaction of $648,196.68. Following the completion of the sale, the senior vice president owned 9,033 shares of the company’s stock, valued at $2,041,548.33. This represents a 24.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Forrest Eugene Norrod sold 17,200 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $160.93, for a total transaction of $2,767,996.00. Following the sale, the executive vice president directly owned 313,848 shares of the company’s stock, valued at $50,507,558.64. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 274,118 shares of company stock valued at $46,180,719. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of AMD. HHM Wealth Advisors LLC raised its holdings in shares of Advanced Micro Devices by 2.4% in the third quarter. HHM Wealth Advisors LLC now owns 1,742 shares of the semiconductor manufacturer’s stock worth $282,000 after buying an additional 40 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Advanced Micro Devices by 0.3% in the third quarter. HBK Sorce Advisory LLC now owns 13,404 shares of the semiconductor manufacturer’s stock worth $2,169,000 after buying an additional 43 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Advanced Micro Devices by 0.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,706 shares of the semiconductor manufacturer’s stock worth $1,409,000 after buying an additional 43 shares during the last quarter. Moseley Investment Management Inc. raised its holdings in shares of Advanced Micro Devices by 0.5% in the third quarter. Moseley Investment Management Inc. now owns 8,883 shares of the semiconductor manufacturer’s stock worth $1,437,000 after buying an additional 44 shares during the last quarter. Finally, OneAscent Family Office LLC raised its holdings in shares of Advanced Micro Devices by 2.6% in the third quarter. OneAscent Family Office LLC now owns 1,755 shares of the semiconductor manufacturer’s stock worth $284,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.