Advanced Micro Devices’ (NASDAQ:AMD) Buy Rating Reiterated at Rosenblatt Securities
Rosenblatt Securities reaffirmed their buy rating on shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in a research note published on Wednesday. Rosenblatt Securities currently has a $22.00 price target on the semiconductor manufacturer’s stock.
A number of other equities research analysts have also recently commented on the company. Canaccord Genuity reiterated a buy rating and issued a $17.00 price target on shares of Advanced Micro Devices in a research note on Thursday, April 6th. Craig Hallum increased their price target on Advanced Micro Devices from $16.00 to $17.00 and gave the company a buy rating in a research note on Thursday, June 22nd. Bank of America Corporation reiterated a buy rating on shares of Advanced Micro Devices in a research note on Tuesday, May 9th. Wells Fargo & Company restated an outperform rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 30th. Finally, Vetr upgraded Advanced Micro Devices from a buy rating to a strong-buy rating and set a $15.99 price objective for the company in a research note on Monday, June 26th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $14.10.
Advanced Micro Devices (AMD) traded down 1.20% during midday trading on Wednesday, reaching $13.95. The company had a trading volume of 66,763,754 shares. The firm has a 50-day moving average of $13.28 and a 200 day moving average of $12.67. Advanced Micro Devices has a 1-year low of $5.66 and a 1-year high of $15.65. The company’s market capitalization is $13.18 billion.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Micro Devices will post $0.10 EPS for the current year.
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In related news, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total transaction of $963,750.00. Following the sale, the senior vice president now directly owns 600,301 shares of the company’s stock, valued at $9,256,641.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Devinder Kumar sold 94,199 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $10.20, for a total value of $960,829.80. Following the sale, the chief financial officer now directly owns 746,635 shares in the company, valued at $7,615,677. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 680,978 shares of company stock worth $8,115,227. 1.60% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $706,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $148,000. Janney Montgomery Scott LLC raised its stake in shares of Advanced Micro Devices by 91.0% in the first quarter. Janney Montgomery Scott LLC now owns 143,912 shares of the semiconductor manufacturer’s stock valued at $2,094,000 after buying an additional 68,565 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Advanced Micro Devices by 392.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,995,898 shares of the semiconductor manufacturer’s stock valued at $29,040,000 after buying an additional 1,590,293 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $2,348,000. 56.93% of the stock is currently 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 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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