Advanced Micro Devices Receives Increased Price Target from Bank of America

Advanced Micro Devices (NASDAQ:AMD), a leading semiconductor manufacturer, has seen its price target raised by Bank of America from $165.00 to $195.00. This new target was given as part of a positive research note that was issued on a recent Monday, expressing a continued 'buy' rating for AMD's stock.

Analyst Ratings and Price Targets

Other analysts have also published their perspectives on AMD's financial outlook. For instance, New Street Research upgraded AMD from a 'neutral' to a 'buy' rating and set a price objective of $215.00. Barclays increased their price target from $120.00 to $200.00, recommending an 'overweight' rating. Contrarily, Northland Securities downgraded AMD to a 'market perform' rating. Start of coverage by Cantor Fitzgerald resulted in an 'overweight' rating and a $190.00 price target. Lastly, Stifel Nicolaus reaffirmed a 'buy' rating with a $145.00 price target. With 27 analysts endorsing a 'buy' rating, the consensus aligns with a 'Moderate Buy' and an average target price of $175.39.

Company's Financial Performance

AMD's stock opened at $167.69 on the particular Monday referenced. Financial highlights show a debt-to-equity ratio of 0.03, current ratio of 2.19, and a quick ratio of 1.61. With a 50-day moving average of $144.01 and a 200-day moving average of $120.52, the company shows significant growth. AMD reached a 1-year low of $72.03 and a high of $184.92, and posts a market capitalization of $268.30 billion and a PE ratio of 1,397.53.

AMD recently reported quarterly earnings of $0.77 per share, in line with analyst expectations. The company achieved a revenue of $6.17 billion, slightly exceeding the $6.13 billion forecast. Revenue growth was 10.2% higher than the same quarter the previous year, highlighting AMD's strong market presence.

Insider Transactions at AMD

Significant insider transactions include AMD's CEO, Lisa T. Su, who sold 75,000 shares at an average price of $117.73, resulting in a substantial transaction of over $8.8 million. Detailed transaction reports are filed with the SEC and are publicly accessible.

Institutional Investment Changes

A number of institutional investors and hedge funds have recently changed their stakes in AMD. These range from new positions in the company to increased shareholdings by existing investors. Institutional ownership of AMD stock stands at around 68.43%.

About Advanced Micro Devices

Advanced Micro Devices operates globally in the semiconductor industry, providing products across various segments such as data centers, client computing, gaming, and embedded systems. Their offerings include x86 microprocessors, GPUs, and semi-custom SoC products amongst others, catering to a diverse market demand.

PriceTarget, BankofAmerica, Semiconductors