Advanced Micro Devices (AMD) Given New $40.00 Price Target at Rosenblatt Securities
Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by Rosenblatt Securities from $30.00 to $40.00 in a research note published on Tuesday morning, The Fly reports. Rosenblatt Securities currently has a buy rating on the semiconductor manufacturer’s stock.
Other research analysts have also issued research reports about the company. Bank of America raised their price objective on Advanced Micro Devices to $25.00 and gave the company an average rating in a research report on Monday, August 6th. TheStreet raised shares of Advanced Micro Devices from a c rating to a b- rating in a report on Wednesday, July 25th. BidaskClub downgraded shares of Advanced Micro Devices from a strong-buy rating to a buy rating in a report on Tuesday, June 19th. Stifel Nicolaus increased their price target on shares of Advanced Micro Devices from $14.00 to $17.00 and gave the company a buy rating in a report on Friday, June 1st. Finally, Zacks Investment Research raised shares of Advanced Micro Devices from a hold rating to a buy rating and set a $17.00 price target for the company in a report on Tuesday, June 26th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $19.02.
Shares of Advanced Micro Devices stock opened at $32.72 on Tuesday. The stock has a market cap of $31.40 billion, a PE ratio of 409.00, a PEG ratio of 6.32 and a beta of 3.16. The company has a quick ratio of 1.26, a current ratio of 1.66 and a debt-to-equity ratio of 1.33. Advanced Micro Devices has a twelve month low of $9.04 and a twelve month high of $34.14.
In other news, insider Mark D. Papermaster sold 20,066 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $19.14, for a total transaction of $384,063.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James Robert Anderson sold 160,529 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $16.87, for a total transaction of $2,708,124.23. Following the transaction, the senior vice president now directly owns 545,925 shares in the company, valued at $9,209,754.75. The disclosure for this sale can be found here. In the last three months, insiders sold 25,033,429 shares of company stock valued at $486,941,396. 1.80% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. State of Wisconsin Investment Board increased its holdings in Advanced Micro Devices by 7.4% during the second quarter. State of Wisconsin Investment Board now owns 1,061,554 shares of the semiconductor manufacturer’s stock valued at $15,913,000 after buying an additional 73,081 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Advanced Micro Devices during the first quarter valued at approximately $301,000. OmniStar Financial Group Inc. purchased a new position in Advanced Micro Devices during the second quarter valued at approximately $316,000. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Advanced Micro Devices by 10.6% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,246 shares of the semiconductor manufacturer’s stock valued at $933,000 after buying an additional 5,991 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Advanced Micro Devices by 30.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 205,589 shares of the semiconductor manufacturer’s stock valued at $3,082,000 after buying an additional 48,336 shares during the period. 65.99% of the stock is currently 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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