Advanced Micro Devices’ (AMD) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $180.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $200.00.

A number of other analysts have also recently weighed in on the stock. KeyCorp decreased their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley cut their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday. Evercore ISI upped their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen cut their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $141.86 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.50. Advanced Micro Devices has a 52 week low of $105.91 and a 52 week high of $227.30. The stock has a market capitalization of $229.60 billion, a P/E ratio of 127.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.70. The stock has a fifty day moving average of $154.75 and a 200-day moving average of $155.81.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Legal & General Group Plc increased its stake in Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Van ECK Associates Corp increased its stake in Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after purchasing an additional 975,220 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after buying an additional 2,497,056 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in shares of Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock valued at $1,451,945,000 after buying an additional 382,582 shares in the last quarter. Institutional investors and hedge funds 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.