Advanced Micro Devices’ (AMD) Buy Rating Reiterated at Bank of America Corporation
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America Corporation in a note issued to investors on Wednesday. They currently have a $18.00 price target on the semiconductor manufacturer’s stock. Bank of America Corporation’s price target suggests a potential upside of 42.52% from the company’s current price.
A number of other research firms have also recently commented on AMD. Goldman Sachs Group, Inc. (The) set a $11.00 target price on shares of Advanced Micro Devices and gave the stock a “sell” rating in a research note on Wednesday, July 26th. Vetr raised shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 target price for the company in a research note on Monday, June 26th. Zacks Investment Research cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Northland Securities reissued a “buy” rating and set a $17.50 target price on shares of Advanced Micro Devices in a research note on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a research note on Friday, June 23rd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $14.18.
Shares of Advanced Micro Devices (NASDAQ:AMD) traded down 3.00% on Wednesday, hitting $12.63. The stock had a trading volume of 64,611,662 shares. The firm’s 50-day moving average price is $13.40 and its 200 day moving average price is $12.92. The firm’s market cap is $11.96 billion. Advanced Micro Devices has a 12 month low of $5.66 and a 12 month high of $15.65.
Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Analysts anticipate that Advanced Micro Devices will post $0.10 EPS for the current fiscal year.
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In other Advanced Micro Devices news, insider Mark D. Papermaster sold 38,819 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $12.70, for a total transaction of $493,001.30. Following the sale, the insider now directly owns 930,839 shares in the company, valued at approximately $11,821,655.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Darla M. Smith sold 11,810 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $12.17, for a total transaction of $143,727.70. Following the sale, the chief accounting officer now owns 31,291 shares in the company, valued at $380,811.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,790,341 shares of company stock worth $21,024,000,023,062,700. 1.60% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in AMD. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 6.6% in the second quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock worth $1,161,796,000 after buying an additional 5,797,819 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Advanced Micro Devices during the second quarter worth $184,767,000. Wellington Management Group LLP raised its stake in shares of Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after buying an additional 13,939,494 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Advanced Micro Devices by 31.7% in the first quarter. Geode Capital Management LLC now owns 9,210,323 shares of the semiconductor manufacturer’s stock worth $133,854,000 after buying an additional 2,215,111 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Advanced Micro Devices during the first quarter worth $129,039,000. Institutional investors own 56.37% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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