Advanced Micro Devices (NASDAQ:AMD) Upgraded to "Strong-Buy" by TD Cowen

TD Cowen upgraded shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

A number of other equities analysts have also commented on the company. Susquehanna reaffirmed a positive rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. KeyCorp dropped their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating for the company in a research note on Tuesday, July 9th. Wedbush reissued an outperform rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on Advanced Micro Devices from $176.00 to $178.00 and gave the company an equal weight rating in a research note on Wednesday, July 31st. Finally, Bank of America dropped their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a buy rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of Moderate Buy and an average target price of $193.45.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded down $1.26 during trading hours on Monday, reaching $150.82. The stock had a trading volume of 29,851,842 shares, compared to its average volume of 60,340,242. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The stock has a 50 day simple moving average of $148.50 and a 200 day simple moving average of $161.13. Advanced Micro Devices has a 12-month low of $93.11 and a 12-month high of $227.30. The stock has a market cap of $243.77 billion, a P/E ratio of 221.79, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $0.40 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the business's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Tradewinds Capital Management LLC raised its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 71 shares in the last quarter. Morton Brown Family Wealth LLC raised its position in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer's stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the 2nd quarter worth approximately $27,000. Northwest Bank & Trust Co bought a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Finally, Semmax Financial Advisors Inc. raised its position in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

About Advanced Micro Devices

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.