JPMorgan Chase & Co. Boosts Advanced Micro Devices (NASDAQ:AMD) Price Target to $33.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by JPMorgan Chase & Co. from $25.00 to $33.00 in a research note published on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently commented on AMD. Cowen restated an outperform rating and issued a $40.00 price objective (up previously from $36.00) on shares of Advanced Micro Devices in a research report on Thursday, July 18th. Zacks Investment Research raised shares of Advanced Micro Devices from a sell rating to a hold rating in a report on Tuesday, April 16th. Barclays increased their target price on shares of Advanced Micro Devices from $26.00 to $28.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. BidaskClub raised shares of Advanced Micro Devices from a sell rating to a hold rating in a report on Saturday, July 6th. Finally, Morgan Stanley raised shares of Advanced Micro Devices from an underweight rating to an equal weight rating and increased their target price for the company from $17.00 to $28.00 in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the stock. Advanced Micro Devices currently has an average rating of Hold and an average target price of $31.08.

NASDAQ:AMD traded down $0.42 during mid-day trading on Wednesday, reaching $29.44. The stock had a trading volume of 60,209,593 shares, compared to its average volume of 51,705,480. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.54. The stock has a market cap of $32.93 billion, a price-to-earnings ratio of 84.11, a price-to-earnings-growth ratio of 2.45 and a beta of 3.06. Advanced Micro Devices has a twelve month low of $16.03 and a twelve month high of $34.86. The firm’s 50 day moving average price is $31.72.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Advanced Micro Devices had a net margin of 3.25% and a return on equity of 16.04%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, equities research analysts forecast that Advanced Micro Devices will post 0.54 earnings per share for the current year.

In other news, CEO Lisa T. Su sold 164,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.66, for a total transaction of $5,520,240.00. Following the completion of the transaction, the chief executive officer now directly owns 2,375,264 shares of the company’s stock, valued at approximately $79,951,386.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.75, for a total transaction of $6,687,500.00. Following the transaction, the chief executive officer now directly owns 2,511,264 shares of the company’s stock, valued at $67,176,312. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,045,137 shares of company stock valued at $31,793,994. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AMD. Joseph P. Lucia & Associates LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $26,000. Advisory Alpha LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $26,000. Peddock Capital Advisors LLC increased its stake in shares of Advanced Micro Devices by 151.5% during the 1st quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its stake in shares of Advanced Micro Devices by 99.4% during the 1st quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 537 shares in the last quarter. 60.98% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its 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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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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