Advanced Micro Devices’ (AMD) Buy Rating Reiterated at MKM Partners
MKM Partners reiterated their buy rating on shares of Advanced Micro Devices Inc. (NASDAQ:AMD) in a research note published on Friday morning. They currently have a $8.00 target price on the semiconductor manufacturer’s stock.
AMD has been the topic of a number of other research reports. Wells Fargo & Co. reiterated an outperform rating and set a $4.25 target price on shares of Advanced Micro Devices in a report on Thursday, May 26th. Deutsche Bank AG increased their target price on Advanced Micro Devices from $4.00 to $5.00 and gave the company a hold rating in a report on Wednesday, September 14th. Canaccord Genuity reiterated a buy rating on shares of Advanced Micro Devices in a report on Tuesday, August 23rd. Mizuho restated a neutral rating and set a $7.00 price objective (up previously from $5.50) on shares of Advanced Micro Devices in a report on Thursday, September 1st. Finally, Vetr upgraded Advanced Micro Devices from a hold rating to a buy rating and set a $4.56 price objective on the stock in a report on Monday, June 13th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Advanced Micro Devices presently has an average rating of Hold and a consensus target price of $5.62.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.17 on Friday. The stock’s market cap is $4.91 billion. Advanced Micro Devices has a 12-month low of $1.65 and a 12-month high of $8.00. The company has a 50 day moving average price of $6.78 and a 200 day moving average price of $4.73.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm earned $1.03 billion during the quarter, compared to analysts’ expectations of $951.89 million. Analysts anticipate that Advanced Micro Devices will post ($0.20) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at $14,815,000. Arizona State Retirement System raised its stake in shares of Advanced Micro Devices by 4.1% in the first quarter. Arizona State Retirement System now owns 326,833 shares of the semiconductor manufacturer’s stock valued at $931,000 after buying an additional 12,800 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Advanced Micro Devices during the first quarter valued at $15,658,000. Societe Generale purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at $937,000. Finally, BlackRock Group LTD raised its stake in shares of Advanced Micro Devices by 24.2% in the first quarter. BlackRock Group LTD now owns 449,771 shares of the semiconductor manufacturer’s stock valued at $1,282,000 after buying an additional 87,752 shares in the last quarter. 41.45% of the stock is owned by hedge funds and other institutional investors.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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