Advanced Micro Devices Inc. (AMD) Price Target Raised to $10.50 at MKM Partners
Advanced Micro Devices Inc. (NASDAQ:AMD) had its target price hoisted by MKM Partners from $8.00 to $10.50 in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.
A number of other equities research analysts have also recently issued reports on AMD. Vetr upgraded Advanced Micro Devices from a buy rating to a strong-buy rating and set a $10.53 price objective on the stock in a research note on Tuesday. Canaccord Genuity restated a buy rating and issued a $8.50 price objective on shares of Advanced Micro Devices in a research note on Monday, September 12th. Zacks Investment Research raised Advanced Micro Devices from a hold rating to a buy rating and set a $7.75 target price for the company in a report on Wednesday, November 16th. Mizuho reaffirmed a neutral rating and set a $7.00 target price (up previously from $5.50) on shares of Advanced Micro Devices in a report on Thursday, September 1st. Finally, Sanford C. Bernstein began coverage on Advanced Micro Devices in a report on Wednesday, September 21st. They set an underperform rating and a $3.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $6.28.
Advanced Micro Devices (NASDAQ:AMD) opened at 8.69 on Tuesday. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $6.03. Advanced Micro Devices has a 12-month low of $1.75 and a 12-month high of $9.22. The company’s market cap is $8.05 billion.
Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Thursday, October 20th. The semiconductor manufacturer reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices will post ($0.15) earnings per share for the current fiscal year.
In related news, SVP Mark D. Papermaster sold 271,454 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $6.61, for a total transaction of $1,794,310.94. Following the sale, the senior vice president now owns 1,032,492 shares of the company’s stock, valued at approximately $6,824,772.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 665,414 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $6.61, for a total value of $4,398,386.54. Following the sale, the chief executive officer now directly owns 2,687,640 shares in the company, valued at approximately $17,765,300.40. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Tuttle Tactical Management LLC acquired a new stake in shares of Advanced Micro Devices during the third quarter valued at about $169,000. Ameritas Investment Partners Inc. increased its stake in shares of Advanced Micro Devices by 86.1% in the third quarter. Ameritas Investment Partners Inc. now owns 284,192 shares of the semiconductor manufacturer’s stock valued at $1,964,000 after buying an additional 131,465 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Advanced Micro Devices during the third quarter valued at about $1,911,000. Alpine Partners VI LLC purchased a new position in Advanced Micro Devices during the third quarter valued at $501,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Advanced Micro Devices during the third quarter valued at $1,138,000. 45.63% of the stock is currently owned by institutional investors.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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