Nomura Raises Advanced Micro Devices (NASDAQ:AMD) Price Target to $40.00

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Advanced Micro Devices (NASDAQ:AMD) had its price objective hoisted by Nomura from $37.00 to $40.00 in a research note issued to investors on Wednesday, October 30th, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Nomura’s target price would suggest a potential upside of 10.22% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Advanced Micro Devices in a research note on Sunday, August 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Piper Jaffray Companies started coverage on Advanced Micro Devices in a research report on Monday, August 19th. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Benchmark started coverage on Advanced Micro Devices in a research report on Thursday, August 1st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company. Advanced Micro Devices presently has a consensus rating of “Hold” and an average target price of $34.76.

AMD traded up $0.01 during midday trading on Wednesday, hitting $36.29. The stock had a trading volume of 39,353,800 shares, compared to its average volume of 68,765,516. The business has a fifty day moving average of $31.24 and a 200 day moving average of $30.51. The company has a market cap of $40.26 billion, a P/E ratio of 103.69, a price-to-earnings-growth ratio of 3.26 and a beta of 3.07. Advanced Micro Devices has a 1 year low of $16.03 and a 1 year high of $37.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.54 and a current ratio of 2.10.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion. Advanced Micro Devices had a return on equity of 16.54% and a net margin of 3.47%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. On average, equities research analysts anticipate that Advanced Micro Devices will post 0.46 earnings per share for the current year.

In related news, SVP Harry A. Wolin sold 90,672 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.53, for a total transaction of $3,040,232.16. Following the transaction, the senior vice president now directly owns 1,060,495 shares of the company’s stock, valued at approximately $35,558,397.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark E. Wallace sold 12,559 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $13.42, for a total value of $168,541.78. Insiders have sold a total of 1,557,673 shares of company stock worth $50,665,943 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 4.1% in the second quarter. Vanguard Group Inc. now owns 107,711,218 shares of the semiconductor manufacturer’s stock worth $3,271,190,000 after buying an additional 4,205,071 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 5,801.3% in the second quarter. Nuveen Asset Management LLC now owns 13,053,535 shares of the semiconductor manufacturer’s stock worth $396,435,000 after buying an additional 12,832,339 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 2.4% in the second quarter. Northern Trust Corp now owns 10,377,326 shares of the semiconductor manufacturer’s stock worth $315,158,000 after buying an additional 246,225 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Advanced Micro Devices by 3.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,121,778 shares of the semiconductor manufacturer’s stock worth $125,179,000 after buying an additional 139,105 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Advanced Micro Devices by 8.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,986,862 shares of the semiconductor manufacturer’s stock worth $115,579,000 after buying an additional 309,242 shares during the last quarter. 62.58% of the stock is currently 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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