Bank of America Reiterates Buy Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America in a research note issued on Thursday, Benzinga reports. They presently have a $180.00 price target on the semiconductor manufacturer’s stock. Bank of America‘s target price indicates a potential upside of 5.32% from the company’s previous close.

AMD has been the topic of several other reports. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley increased their price target on Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Susquehanna reissued a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, Robert W. Baird reduced their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $170.90 on Thursday. The stock has a market cap of $276.23 billion, a price-to-earnings ratio of 251.32, a PEG ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The firm’s 50-day simple moving average is $148.16 and its 200 day simple moving average is $158.07.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts anticipate that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $328,000. Jones Financial Companies Lllp boosted its stake in shares of Advanced Micro Devices by 127.8% in the 4th quarter. Jones Financial Companies Lllp now owns 524 shares of the semiconductor manufacturer’s stock worth $77,000 after buying an additional 294 shares during the last quarter. Capital World Investors increased its position in Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after acquiring an additional 2,982,704 shares during the last quarter. 1832 Asset Management L.P. increased its position in Advanced Micro Devices by 0.5% during the fourth quarter. 1832 Asset Management L.P. now owns 80,366 shares of the semiconductor manufacturer’s stock valued at $11,847,000 after acquiring an additional 424 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its holdings in Advanced Micro Devices by 4.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 7,472 shares of the semiconductor manufacturer’s stock valued at $1,101,000 after acquiring an additional 292 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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.