Advanced Micro Devices’ (NASDAQ:AMD) “Outperform” Rating Reiterated at Cowen

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Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reiterated by Cowen in a report issued on Wednesday, May 1st, Marketbeat Ratings reports. They presently have a $36.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $33.00. Cowen’s target price would indicate a potential upside of 30.91% from the company’s previous close.

AMD has been the topic of several other reports. Zacks Investment Research lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Barclays raised their price target on Advanced Micro Devices from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Bank of America lifted their target price on Advanced Micro Devices from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Nomura began coverage on Advanced Micro Devices in a report on Tuesday, April 2nd. They set a “buy” rating and a $33.00 target price on the stock. Finally, ValuEngine lowered Advanced Micro Devices from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $28.92.

AMD stock traded down $0.51 during midday trading on Wednesday, reaching $27.50. 64,037,515 shares of the company’s stock traded hands, compared to its average volume of 78,095,008. The stock has a market capitalization of $29.83 billion, a price-to-earnings ratio of 78.57, a P/E/G ratio of 1.65 and a beta of 3.37. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.08 and a quick ratio of 1.54. Advanced Micro Devices has a 1-year low of $12.71 and a 1-year high of $34.14.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Advanced Micro Devices had a return on equity of 25.23% and a net margin of 4.46%. The business’s quarterly revenue was down 22.8% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. On average, equities analysts expect that Advanced Micro Devices will post 0.55 earnings per share for the current fiscal year.

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $26.86, for a total transaction of $805,800.00. Following the transaction, the executive vice president now owns 1,329,588 shares of the company’s stock, valued at $35,712,733.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $27.54, for a total value of $165,240.00. Following the transaction, the senior vice president now directly owns 28,979 shares in the company, valued at approximately $798,081.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 762,664 shares of company stock worth $19,637,229. 1.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 37.9% during the fourth quarter. Penserra Capital Management LLC now owns 43,426 shares of the semiconductor manufacturer’s stock worth $800,000 after acquiring an additional 11,932 shares during the period. QUANTRES ASSET MANAGEMENT Ltd boosted its holdings in shares of Advanced Micro Devices by 30.5% during the fourth quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 68,400 shares of the semiconductor manufacturer’s stock worth $1,263,000 after acquiring an additional 16,000 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 261.3% during the fourth quarter. Parallel Advisors LLC now owns 6,139 shares of the semiconductor manufacturer’s stock worth $113,000 after acquiring an additional 4,440 shares during the period. Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 9.0% during the fourth quarter. Northern Trust Corp now owns 9,969,648 shares of the semiconductor manufacturer’s stock worth $184,040,000 after acquiring an additional 823,765 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Advanced Micro Devices by 8.1% during the fourth quarter. Comerica Bank now owns 260,940 shares of the semiconductor manufacturer’s stock worth $5,023,000 after acquiring an additional 19,584 shares during the period. Institutional investors own 58.78% of the company’s stock.

About Advanced Micro Devices

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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