Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “buy” rating restated by equities researchers at Jefferies Financial Group in a research note issued to investors on Tuesday. They currently have a $30.00 target price on the semiconductor manufacturer’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 5.23% from the company’s previous close. Jefferies Financial Group also issued estimates for Advanced Micro Devices’ Q3 2019 earnings at $0.20 EPS.
The analysts wrote, “We raise our 2019 EPS est and our price target following our meeting with management at our annual Chicago Summit. We have higher conviction that in 2H19, AMD will ship a server MPU with higher transistor density than INTC for the first time in recent history, if not ever. We see this as a foundational shift in competitive dynamics. Meanwhile, our checks also suggest that AMD continues to take share in high-end notebooks. AMD remains a top Tectonic Shift pick. Foundational Shift. For most of the past 12 years, Intel has executed near flawlessly, as AMD often stumbled and lost share. Intel’s manufacturing lead led to smaller, cheaper, lower power and higher performance transistors – making it nearly impossible for AMD to reverse its share loss.””
Other research analysts also recently issued reports about the stock. BMO Capital Markets restated a “hold” rating and set a $14.00 target price on shares of Advanced Micro Devices in a research report on Thursday, July 26th. Cowen began coverage on shares of Advanced Micro Devices in a research report on Thursday, May 17th. They set an “outperform” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Advanced Micro Devices to $15.50 and gave the company a “neutral” rating in a research report on Thursday, July 26th. Bank of America increased their price target on shares of Advanced Micro Devices to $25.00 and gave the company an “average” rating in a research report on Monday, August 6th. Finally, Mizuho reiterated a “buy” rating and issued a $20.00 price target on shares of Advanced Micro Devices in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Advanced Micro Devices presently has an average rating of “Buy” and an average target price of $18.40.
Shares of NASDAQ AMD opened at $28.51 on Tuesday. The stock has a market cap of $24.54 billion, a P/E ratio of 74.03, a P/E/G ratio of 8.92 and a beta of 3.16. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.26 and a current ratio of 1.66. Advanced Micro Devices has a 12-month low of $9.04 and a 12-month high of $29.94.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Advanced Micro Devices had a net margin of 5.04% and a return on equity of 52.84%. The firm’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. sell-side analysts forecast that Advanced Micro Devices will post 0.36 earnings per share for the current fiscal year.
In related news, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $15.27, for a total value of $954,375.00. Following the completion of the transaction, the senior vice president now directly owns 668,772 shares of the company’s stock, valued at $10,212,148.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark D. Papermaster sold 20,066 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $19.14, for a total transaction of $384,063.24. The disclosure for this sale can be found here. Insiders have sold a total of 24,965,929 shares of company stock valued at $483,438,771 over the last ninety days. Company insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AMD. OppenheimerFunds Inc. lifted its holdings in Advanced Micro Devices by 36.1% during the 1st quarter. OppenheimerFunds Inc. now owns 30,042,756 shares of the semiconductor manufacturer’s stock valued at $301,930,000 after purchasing an additional 7,966,623 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Advanced Micro Devices by 541.5% during the 2nd quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after purchasing an additional 6,269,500 shares during the last quarter. Millennium Management LLC lifted its holdings in Advanced Micro Devices by 1,311.0% during the 1st quarter. Millennium Management LLC now owns 6,700,103 shares of the semiconductor manufacturer’s stock valued at $67,336,000 after purchasing an additional 6,225,267 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Advanced Micro Devices by 84.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock valued at $101,473,000 after purchasing an additional 3,105,441 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its holdings in Advanced Micro Devices by 107.7% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 5,432,501 shares of the semiconductor manufacturer’s stock valued at $81,432,000 after purchasing an additional 2,816,360 shares during the last quarter. 65.92% of the stock is owned by institutional investors and hedge funds.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's 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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