JPMorgan Chase & Co. Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $180.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.78% from the stock’s current price.

A number of other research firms also recently issued reports on AMD. UBS Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Advanced Micro Devices in a report on Wednesday. Dbs Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a report on Monday, October 6th. Raymond James Financial raised their target price on shares of Advanced Micro Devices from $120.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Weiss Ratings cut shares of Advanced Micro Devices from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Finally, Benchmark raised their target price on shares of Advanced Micro Devices from $270.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.88.

Advanced Micro Devices Trading Up 3.0%

Shares of NASDAQ:AMD traded up $7.63 during mid-day trading on Wednesday, reaching $257.68. The stock had a trading volume of 54,375,338 shares, compared to its average volume of 49,695,137. The firm has a market cap of $418.17 billion, a PE ratio of 147.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90. The firm has a 50 day simple moving average of $194.76 and a two-hundred day simple moving average of $156.06. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. 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 posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $163.97, for a total transaction of $36,893,250.00. Following the completion of the sale, the chief executive officer directly owned 3,359,748 shares in the company, valued at approximately $550,897,879.56. The trade was a 6.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $165.01, for a total value of $371,272.50. Following the completion of the sale, the executive vice president owned 311,598 shares of the company’s stock, valued at $51,416,785.98. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 274,118 shares of company stock worth $46,180,719 in the last quarter. 0.06% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently modified their holdings of AMD. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the second quarter valued at $3,094,662,000. Kingstone Capital Partners Texas LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at $958,422,000. Goldman Sachs Group Inc. raised its stake in Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer’s stock valued at $1,012,538,000 after buying an additional 6,200,850 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Advanced Micro Devices by 131.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock worth $1,069,846,000 after purchasing an additional 5,915,185 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Advanced Micro Devices during the first quarter worth about $436,746,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.