Advanced Micro Devices’ (AMD) Overweight Rating Reiterated at Piper Sandler

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They currently have a $180.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $200.00. Piper Sandler’s price target would indicate a potential upside of 19.68% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. UBS Group decreased their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday. Edward Jones began coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Robert W. Baird cut their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Citigroup upped their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI upped their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.14.

Advanced Micro Devices Price Performance

Shares of AMD traded down $15.85 during trading hours on Wednesday, hitting $150.40. 41,621,684 shares of the stock were exchanged, compared to its average volume of 56,641,477. The stock’s 50-day moving average price is $155.35 and its two-hundred day moving average price is $156.08. The company has a market cap of $243.09 billion, a price-to-earnings ratio of 221.18, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. 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 12-month low of $94.07 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. Research analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current year.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently modified their holdings of AMD. Cherrydale Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after buying an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc boosted its position in shares of Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after buying an additional 60 shares during the last quarter. Delta Financial Group Inc. grew its position in shares of Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 63 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Advanced Micro Devices by 0.3% during the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after purchasing an additional 65 shares in the last quarter. Finally, Wealth Effects LLC boosted its holdings in Advanced Micro Devices by 0.7% in the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 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.