Advanced Micro Devices (NASDAQ:AMD) Rating Increased to Buy at HSBC

Advanced Micro Devices (NASDAQ:AMD) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $225.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $180.00. HSBC’s target price points to a potential upside of 40.34% from the stock’s current price.

AMD has been the subject of several other reports. Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $190.00 price target on shares of Advanced Micro Devices in a research report on Monday, March 4th. Raymond James cut shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $190.00 to $195.00 in a research report on Tuesday, January 30th. Melius Research upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Monday, January 8th. Finally, Barclays upped their price target on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $185.15.

Advanced Micro Devices Price Performance

AMD stock opened at $160.32 on Tuesday. The company has a 50 day simple moving average of $180.87 and a 200 day simple moving average of $147.77. The stock has a market cap of $259.10 billion, a price-to-earnings ratio of 308.31, a P/E/G ratio of 2.49 and a beta of 1.64. Advanced Micro Devices has a 1 year low of $81.02 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Research analysts anticipate that Advanced Micro Devices will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the sale, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold 324,943 shares of company stock worth $59,919,994 over the last three months. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently made changes to their positions in the business. Washburn Capital Management Inc. purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $231,000. Independence Bank of Kentucky boosted its position in Advanced Micro Devices by 84.1% during the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 1,677 shares during the period. Meridian Wealth Management LLC boosted its position in Advanced Micro Devices by 135.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 205,154 shares of the semiconductor manufacturer’s stock valued at $21,135,000 after buying an additional 118,090 shares during the period. Gendell Jeffrey L purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at $3,085,000. Finally, Sara Bay Financial purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $315,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.