Bank of America Corporation set a $18.00 price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently issued reports on the stock. Canaccord Genuity reiterated a buy rating and issued a $17.00 target price on shares of Advanced Micro Devices in a research note on Thursday, April 6th. Craig Hallum lifted their target price on shares of Advanced Micro Devices from $16.00 to $17.00 and gave the company a buy rating in a research note on Thursday, June 22nd. Wells Fargo & Company reiterated an outperform rating and issued a $15.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 30th. Vetr upgraded 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. Finally, Macquarie cut shares of Advanced Micro Devices from a neutral rating to an underperform rating and reduced their target price for the company from $16.00 to $10.00 in a research note on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $14.10.

Shares of Advanced Micro Devices (NASDAQ AMD) opened at 13.95 on Wednesday. The stock has a 50 day moving average of $13.28 and a 200 day moving average of $12.67. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65. The firm’s market cap is $13.18 billion.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. The firm 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 revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Equities analysts predict that Advanced Micro Devices will post $0.10 EPS for the current fiscal year.

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In related news, CFO Devinder Kumar sold 94,199 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $10.20, for a total transaction of $960,829.80. Following the transaction, the chief financial officer now owns 746,635 shares of the company’s stock, valued at $7,615,677. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total transaction of $963,750.00. Following the transaction, the senior vice president now directly owns 600,301 shares in the company, valued at approximately $9,256,641.42. The disclosure for this sale can be found here. Insiders have sold 680,978 shares of company stock worth $8,115,227 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Advanced Micro Devices during the first quarter worth about $100,000. Intellectus Partners LLC bought a new position in shares of Advanced Micro Devices during the first quarter worth about $116,000. K.J. Harrison & Partners Inc bought a new position in shares of Advanced Micro Devices during the second quarter worth about $125,000. ING Groep NV bought a new position in shares of Advanced Micro Devices during the first quarter worth about $127,000. Finally, Bluestein R H & Co. bought a new position in shares of Advanced Micro Devices during the first quarter worth about $146,000. 56.93% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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