Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $63.00 at Royal Bank of Canada

Advanced Micro Devices (NASDAQ:AMD) had its target price upped by Royal Bank of Canada from $53.00 to $63.00 in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Several other analysts also recently commented on AMD. Bank of America upped their price objective on shares of Advanced Micro Devices from $56.00 to $62.00 and gave the company a buy rating in a report on Wednesday, January 29th. Zacks Investment Research raised shares of Advanced Micro Devices from a sell rating to a hold rating and set a $53.00 price objective on the stock in a report on Friday, January 3rd. Argus upped their price objective on shares of Advanced Micro Devices to $40.00 and gave the company a buy rating in a report on Thursday, October 31st. Summit Insights raised shares of Advanced Micro Devices from a hold rating to a buy rating in a report on Wednesday, January 29th. Finally, Piper Jaffray Companies upped their price objective on shares of Advanced Micro Devices from $35.00 to $40.00 and gave the company a neutral rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $44.14.

NASDAQ AMD opened at $55.31 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.95 and a debt-to-equity ratio of 0.17. The firm has a market cap of $63.78 billion, a PE ratio of 113.60, a price-to-earnings-growth ratio of 2.48 and a beta of 3.12. The company has a 50 day moving average price of $49.14 and a 200 day moving average price of $37.76. Advanced Micro Devices has a 52 week low of $21.03 and a 52 week high of $55.40.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, January 28th. The semiconductor manufacturer reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. Advanced Micro Devices had a net margin of 5.07% and a return on equity of 26.22%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.08 EPS. Advanced Micro Devices’s revenue for the quarter was up 49.9% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Micro Devices will post 0.94 earnings per share for the current fiscal year.

In other news, CAO Darla M. Smith sold 831 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.63, for a total value of $32,101.53. Following the completion of the sale, the chief accounting officer now directly owns 20,779 shares in the company, valued at $802,692.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa T. Su sold 150,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $53.94, for a total transaction of $8,091,000.00. Following the completion of the sale, the chief executive officer now owns 2,753,670 shares of the company’s stock, valued at $148,532,959.80. The disclosure for this sale can be found here. Insiders sold 363,156 shares of company stock valued at $17,539,943 over the last quarter. Company insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GQG Partners LLC increased its position in Advanced Micro Devices by 14,550.1% during the fourth quarter. GQG Partners LLC now owns 4,605,562 shares of the semiconductor manufacturer’s stock worth $211,303,000 after purchasing an additional 4,574,125 shares during the last quarter. Renaissance Technologies LLC increased its position in Advanced Micro Devices by 629.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,611,726 shares of the semiconductor manufacturer’s stock worth $211,494,000 after purchasing an additional 3,979,931 shares during the last quarter. Point72 Asset Management L.P. increased its position in Advanced Micro Devices by 60.1% during the third quarter. Point72 Asset Management L.P. now owns 7,940,243 shares of the semiconductor manufacturer’s stock worth $230,188,000 after purchasing an additional 2,981,656 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Advanced Micro Devices during the third quarter worth about $71,709,000. Finally, William Blair Investment Management LLC increased its position in Advanced Micro Devices by 123.6% during the fourth quarter. William Blair Investment Management LLC now owns 2,056,392 shares of the semiconductor manufacturer’s stock worth $94,306,000 after purchasing an additional 1,136,664 shares during the last quarter. Institutional investors and hedge funds own 70.53% of the company’s stock.

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.

Read More: How to build a Fibonacci channel

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.