Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $300.00 at Rosenblatt Securities

Advanced Micro Devices (NASDAQ:AMD) had its price target upped by stock analysts at Rosenblatt Securities from $250.00 to $300.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target suggests a potential upside of 19.98% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Hsbc Global Res upgraded shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 10th. Sanford C. Bernstein raised their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Truist Financial restated a “buy” rating and issued a $273.00 target price (up previously from $213.00) on shares of Advanced Micro Devices in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $235.00 target price on shares of Advanced Micro Devices and gave the stock a “hold” rating in a report on Tuesday, October 14th. Finally, Morgan Stanley raised their target price on shares of Advanced Micro Devices from $246.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $255.09.

Advanced Micro Devices Price Performance

Shares of AMD opened at $250.05 on Wednesday. The company has a market capitalization of $405.79 billion, a P/E ratio of 143.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $194.76 and a 200 day moving average of $156.06. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%.The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 17,200 shares of Advanced Micro Devices stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $160.93, for a total transaction of $2,767,996.00. Following the transaction, the executive vice president owned 313,848 shares in the company, valued at approximately $50,507,558.64. The trade was a 5.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ava Hahn sold 2,868 shares of Advanced Micro Devices stock in a transaction on Monday, October 6th. The shares were sold at an average price of $226.01, for a total transaction of $648,196.68. Following the transaction, the senior vice president owned 9,033 shares in the company, valued at approximately $2,041,548.33. This trade represents a 24.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 274,118 shares of company stock worth $46,180,719 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 87,829 shares of the semiconductor manufacturer’s stock valued at $14,210,000 after buying an additional 1,131 shares in the last quarter. Auxano Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter valued at $221,000. Savant Capital LLC lifted its stake in shares of Advanced Micro Devices by 4.4% during the 3rd quarter. Savant Capital LLC now owns 44,530 shares of the semiconductor manufacturer’s stock valued at $7,204,000 after buying an additional 1,897 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 7,785 shares of the semiconductor manufacturer’s stock valued at $1,260,000 after buying an additional 837 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in Advanced Micro Devices in the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.