Oppenheimer Holdings, Inc. Reiterates Market Perform Rating for Advanced Micro Devices, Inc. (AMD)
A number of other brokerages have also issued reports on AMD. Longbow Research started coverage on Advanced Micro Devices in a research note on Friday, June 9th. They issued a neutral rating and a $13.10 price target for the company. Vetr upgraded Advanced Micro Devices from a buy rating to a strong-buy rating and set a $15.99 price target for the company in a research note on Monday, June 26th. Northland Securities reiterated a buy rating and issued a $17.50 price target on shares of Advanced Micro Devices in a research note on Friday, June 23rd. Credit Suisse Group restated a neutral rating on shares of Advanced Micro Devices in a research report on Sunday, May 21st. Finally, Jefferies Group LLC restated a buy rating and set a $16.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $14.18.
Advanced Micro Devices (NASDAQ AMD) traded up 0.37% during trading on Friday, reaching $13.66. The company had a trading volume of 8,942,505 shares. Advanced Micro Devices has a one year low of $5.66 and a one year high of $15.65. The firm’s 50-day moving average price is $13.32 and its 200 day moving average price is $12.71. The firm’s market capitalization is $12.91 billion.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. Advanced Micro Devices’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.
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In related news, CEO Lisa T. Su sold 87,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $10.24, for a total transaction of $896,000.00. Following the transaction, the chief executive officer now directly owns 1,429,540 shares of the company’s stock, valued at $14,638,489.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Devinder Kumar sold 94,199 shares of Advanced Micro Devices stock in a transaction that occurred 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 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 three months, insiders have sold 680,978 shares of company stock worth $8,115,227. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AMD. Trexquant Investment LP purchased a new position in Advanced Micro Devices during the first quarter valued at about $706,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Advanced Micro Devices during the first quarter valued at about $148,000. Janney Montgomery Scott LLC raised its position in 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 in the last quarter. UBS Asset Management Americas Inc. raised its position in 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 in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new position in Advanced Micro Devices during the first quarter valued at about $2,348,000. 57.28% of the stock is currently owned by institutional investors.
Advanced Micro Devices Company Profile
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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