Roth Capital Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD) had its target price upped by analysts at Roth Capital from $250.00 to $300.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Roth Capital’s price objective indicates a potential upside of 16.95% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company increased their price objective on Advanced Micro Devices from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wolfe Research set a $300.00 price objective on Advanced Micro Devices and gave the company an “outperform” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group lifted their price objective on Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. KGI Securities set a $260.00 price objective on Advanced Micro Devices and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Benchmark lifted their price objective on Advanced Micro Devices from $270.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $259.24.

Advanced Micro Devices Stock Up 2.6%

Shares of NASDAQ:AMD traded up $6.46 on Wednesday, hitting $256.51. 41,698,986 shares of the company traded hands, compared to its average volume of 49,627,113. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $267.08. 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 stock has a 50 day simple moving average of $194.76 and a 200-day simple moving average of $156.06. The company has a market cap of $416.28 billion, a PE ratio of 147.13, a PEG ratio of 2.42 and a beta of 1.90.

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

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 of the company’s stock, valued at approximately $50,507,558.64. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the transaction, the senior vice president owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. The trade was a 24.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 274,118 shares of company stock worth $46,180,719. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC raised its stake in Advanced Micro Devices by 2.4% in the third quarter. HHM Wealth Advisors LLC now owns 1,742 shares of the semiconductor manufacturer’s stock valued at $282,000 after buying an additional 40 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Advanced Micro Devices by 0.3% in the third quarter. HBK Sorce Advisory LLC now owns 13,404 shares of the semiconductor manufacturer’s stock worth $2,169,000 after purchasing an additional 43 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Advanced Micro Devices by 0.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,706 shares of the semiconductor manufacturer’s stock worth $1,409,000 after acquiring an additional 43 shares during the period. Moseley Investment Management Inc. grew its holdings in Advanced Micro Devices by 0.5% during the third quarter. Moseley Investment Management Inc. now owns 8,883 shares of the semiconductor manufacturer’s stock worth $1,437,000 after acquiring an additional 44 shares during the period. Finally, OneAscent Family Office LLC grew its holdings in Advanced Micro Devices by 2.6% during the third quarter. OneAscent Family Office LLC now owns 1,755 shares of the semiconductor manufacturer’s stock worth $284,000 after acquiring an additional 44 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.