Advanced Micro Devices (NASDAQ:AMD) Receives “Outperform” Rating from Royal Bank of Canada
Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Sunday, MarketBeat.com reports. They presently have a $44.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $43.00. Royal Bank of Canada’s target price suggests a potential upside of 40.44% from the stock’s previous close.
AMD has been the subject of a number of other reports. MKM Partners boosted their price target on shares of Advanced Micro Devices to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Benchmark initiated coverage on shares of Advanced Micro Devices in a report on Thursday, August 1st. They set a “hold” rating for the company. Morgan Stanley lifted their price objective on shares of Advanced Micro Devices from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Citigroup set a $8.00 price objective on shares of Advanced Micro Devices and gave the stock a “sell” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.54.
Advanced Micro Devices stock traded up $1.66 during mid-day trading on Friday, reaching $31.33. The company’s stock had a trading volume of 37,502,881 shares, compared to its average volume of 71,279,000. The firm’s fifty day moving average price is $32.11 and its two-hundred day moving average price is $28.02. The company has a market capitalization of $34.86 billion, a P/E ratio of 89.52, a PEG ratio of 2.73 and a beta of 3.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.52 and a current ratio of 2.08. Advanced Micro Devices has a 12-month low of $16.03 and a 12-month high of $35.55.
In other Advanced Micro Devices news, Director Nora Denzel sold 31,737 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $34.29, for a total value of $1,088,261.73. Following the transaction, the director now owns 152,899 shares in the company, valued at $5,242,906.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $28.39, for a total transaction of $170,340.00. Following the completion of the transaction, the senior vice president now owns 22,979 shares in the company, valued at approximately $652,373.81. The disclosure for this sale can be found here. Insiders sold 1,878,524 shares of company stock worth $60,911,813 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in Advanced Micro Devices in the first quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Advanced Micro Devices in the first quarter worth about $26,000. Advisory Alpha LLC purchased a new stake in Advanced Micro Devices in the first quarter worth about $26,000. Peddock Capital Advisors LLC grew its holdings in Advanced Micro Devices by 151.5% in the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 615 shares during the period. Finally, Berman Capital Advisors LLC grew its holdings in Advanced Micro Devices by 99.4% in the first quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 537 shares during the period. Institutional investors own 60.38% 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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