Craig Hallum Raises Advanced Micro Devices (AMD) Price Target to $27.00

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Advanced Micro Devices (NASDAQ:AMD) had its price objective hoisted by Craig Hallum from $21.00 to $27.00 in a research note released on Wednesday, The Fly reports. Craig Hallum currently has a buy rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also recently weighed in on AMD. BidaskClub cut Advanced Micro Devices from a buy rating to a hold rating in a report on Thursday, November 1st. Cowen dropped their price objective on Advanced Micro Devices from $33.00 to $26.00 and set an outperform rating for the company in a report on Tuesday, October 30th. Stifel Nicolaus reaffirmed a buy rating on shares of Advanced Micro Devices in a report on Thursday, July 26th. Northland Securities upgraded Advanced Micro Devices from a market perform rating to an outperform rating in a research note on Thursday, October 25th. Finally, BMO Capital Markets decreased their price target on Advanced Micro Devices from $20.00 to $18.00 and set a market perform rating on the stock in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $23.65.

NASDAQ AMD traded down $0.17 during midday trading on Wednesday, hitting $21.03. The company had a trading volume of 85,768,661 shares, compared to its average volume of 115,954,776. The stock has a market capitalization of $21.83 billion, a PE ratio of 262.88, a P/E/G ratio of 4.49 and a beta of 3.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.37. Advanced Micro Devices has a twelve month low of $9.04 and a twelve month high of $34.14.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities analysts expect that Advanced Micro Devices will post 0.35 EPS for the current year.

In related news, SVP Harry A. Wolin sold 133,420 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $19.51, for a total transaction of $2,603,024.20. Following the sale, the senior vice president now owns 1,455,655 shares in the company, valued at approximately $28,399,829.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devinder Kumar sold 32,829 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $24.42, for a total value of $801,684.18. Following the sale, the chief financial officer now owns 697,643 shares in the company, valued at approximately $17,036,442.06. The disclosure for this sale can be found here. Insiders have sold a total of 2,569,209 shares of company stock worth $56,688,849 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AMD. MinichMacGregor Wealth Management LLC grew its position in shares of Advanced Micro Devices by 257.7% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock valued at $101,000 after buying an additional 2,319 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Advanced Micro Devices by 953.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 6,847 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 6,197 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $140,000. WealthTrust Axiom LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $149,000. Finally, Wealthsource Partners LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $151,000. Institutional investors and hedge funds own 66.62% of the company’s stock.

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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