Advanced Micro Devices (NASDAQ:AMD) Now Covered by Analysts at Piper Jaffray Companies

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Piper Jaffray Companies assumed coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note published on Monday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $33.00 target price on the semiconductor manufacturer’s stock. Piper Jaffray Companies also issued estimates for Advanced Micro Devices’ Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $0.47 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.19 EPS, Q3 2020 earnings at $0.25 EPS, Q4 2020 earnings at $0.22 EPS and FY2020 earnings at $0.81 EPS.

Other analysts have also recently issued reports about the company. Benchmark assumed coverage on Advanced Micro Devices in a research report on Thursday, August 1st. They set a hold rating on the stock. Barclays increased their price target on Advanced Micro Devices from $26.00 to $28.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. Morgan Stanley increased their price target on Advanced Micro Devices from $28.00 to $30.00 and gave the stock an equal weight rating in a research report on Wednesday, July 31st. Bank of America increased their price target on Advanced Micro Devices from $35.00 to $40.00 and gave the stock a buy rating in a research report on Monday, June 10th. Finally, Jefferies Financial Group increased their price target on Advanced Micro Devices from $34.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have given a buy rating to the company. Advanced Micro Devices has an average rating of Hold and an average target price of $31.59.

Shares of NASDAQ AMD opened at $31.90 on Monday. The stock’s 50 day moving average price is $32.20 and its two-hundred day moving average price is $28.19. Advanced Micro Devices has a 52-week low of $16.03 and a 52-week high of $35.55. The stock has a market capitalization of $33.35 billion, a P/E ratio of 139.64, a PEG ratio of 2.61 and a beta of 3.06. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 0.54.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Advanced Micro Devices’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts anticipate that Advanced Micro Devices will post 0.5 EPS for the current year.

In related news, CAO Darla M. Smith sold 8,388 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.53, for a total value of $281,249.64. Following the completion of the transaction, the chief accounting officer now directly owns 35,918 shares of the company’s stock, valued at approximately $1,204,330.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark D. Papermaster sold 272,023 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.96, for a total value of $8,965,878.08. Following the completion of the transaction, the insider now directly owns 1,607,303 shares of the company’s stock, valued at $52,976,706.88. The disclosure for this sale can be found here. Insiders sold a total of 1,878,524 shares of company stock valued at $60,911,813 over the last three months. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of AMD. Dimensional Fund Advisors LP boosted its stake in Advanced Micro Devices by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,399,337 shares of the semiconductor manufacturer’s stock worth $62,743,000 after buying an additional 136,475 shares during the period. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock worth $240,885,000 after buying an additional 1,651,507 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Advanced Micro Devices during the first quarter worth $215,000. Wedbush Securities Inc. boosted its stake in Advanced Micro Devices by 17.9% during the first quarter. Wedbush Securities Inc. now owns 20,994 shares of the semiconductor manufacturer’s stock worth $536,000 after buying an additional 3,186 shares during the period. Finally, Cambridge Trust Co. purchased a new position in Advanced Micro Devices during the first quarter worth $2,115,000. 62.86% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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