Advanced Micro Devices (AMD) PT Raised to $30.00 at Cowen
Advanced Micro Devices (NASDAQ:AMD) had its target price raised by Cowen from $25.00 to $30.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.
A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price objective on Advanced Micro Devices from $17.00 to $21.00 and gave the company a buy rating in a report on Monday, July 16th. Benchmark started coverage on Advanced Micro Devices in a report on Tuesday, June 26th. They set a hold rating for the company. They noted that the move was a valuation call. Susquehanna Bancshares upgraded Advanced Micro Devices from a negative rating to a neutral rating and set a $13.87 price objective for the company in a report on Wednesday, May 16th. BidaskClub upgraded Advanced Micro Devices from a buy rating to a strong-buy rating in a report on Wednesday, June 13th. Finally, Rosenblatt Securities restated a buy rating and set a $30.00 price objective (up previously from $27.00) on shares of Advanced Micro Devices in a report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $17.98.
Shares of Advanced Micro Devices stock opened at $28.06 on Tuesday. The company has a market capitalization of $24.54 billion, a PE ratio of 74.03, a P/E/G ratio of 8.92 and a beta of 3.15. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.66 and a quick ratio of 1.26. Advanced Micro Devices has a one year low of $9.04 and a one year high of $28.11.
In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 62,500 shares of Advanced Micro Devices stock in a transaction on Monday, June 11th. The stock was sold at an average price of $15.27, for a total transaction of $954,375.00. Following the completion of the sale, the senior vice president now directly owns 668,772 shares of the company’s stock, valued at approximately $10,212,148.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 300,000 shares of Advanced Micro Devices stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $15.38, for a total value of $4,614,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,265,929 shares of company stock valued at $488,052,771. 1.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMD. Advisors Asset Management Inc. bought a new position in shares of Advanced Micro Devices in the 2nd quarter worth $327,000. Public Employees Retirement System of Ohio raised its position in shares of Advanced Micro Devices by 2.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 362,998 shares of the semiconductor manufacturer’s stock worth $5,441,000 after acquiring an additional 8,421 shares in the last quarter. Global X Management Co LLC raised its position in shares of Advanced Micro Devices by 531.4% in the 2nd quarter. Global X Management Co LLC now owns 85,565 shares of the semiconductor manufacturer’s stock worth $1,283,000 after acquiring an additional 72,014 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Advanced Micro Devices by 78.4% in the 2nd quarter. Bank of Nova Scotia now owns 317,332 shares of the semiconductor manufacturer’s stock worth $4,757,000 after acquiring an additional 139,426 shares in the last quarter. Finally, Davy Asset Management Ltd bought a new position in shares of Advanced Micro Devices in the 2nd quarter worth $1,220,000. 65.99% 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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