Advanced Micro Devices Receives Hold Rating from Zacks (AMD)
Advanced Micro Devices (NYSE: AMD)‘s stock had its “hold” rating restated by Zacks in a research report issued to clients and investors on Tuesday, StockRatingsNetwork reports. They currently have a $2.75 price target on the stock.
Zacks‘ analyst wrote, “AMD is the second largest producer of microprocessors, GPUs and chipsets in the world. Its fourth quarter earnings missed estimates, impacted by macro conditions and a slow-down in the PC market. At the same time, Intel remains a strong competitor with superior strategy, technological prowess and the clout that may be expected of the market leader. While AMD may be able to carve out its own niche, its cash burn rate and significant leverage indicate that it is fast running out of time. Competition from ARM is also expected to increase. Of course, its new products, strength in graphics, advancements in 32nm manufacturing and position in China remain positives. We are reiterating our Neutral rating on AMD shares.”
A number of other firms have also recently commented on AMD. Analysts at Macquarie upgraded shares of Advanced Micro Devices from an “underperform” rating to an “outperform” rating in a research note to investors on Monday, March 18th. Separately, analysts at Evercore Partners reiterated an “underweight” rating on shares of Advanced Micro Devices in a research note to investors on Wednesday, March 13th. They now have a $2.00 price target on the stock. Finally, analysts at Wells Fargo reiterated an “outperform” rating on shares of Advanced Micro Devices in a research note to investors on Tuesday, March 12th. They now have a $7.00 price target on the stock, up previously from $5.00. They noted that the move was a valuation call.
Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.99.
Shares of Advanced Micro Devices (NYSE: AMD) traded down 2.02% during mid-day trading on Tuesday, hitting $2.43. Advanced Micro Devices has a one year low of $2.53 and a one year high of $8.21. The stock’s 50-day moving average is currently $2.64. The company’s market cap is $1.735 billion.
Advanced Micro Devices (NYSE: AMD) last announced its earnings results on Tuesday, January 22nd. The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.05. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company posted $0.04 earnings per share. Advanced Micro Devices’s revenue was down 31.7% compared to the same quarter last year. Analysts expect that Advanced Micro Devices will post $-0.32 EPS for the current fiscal year.
Advanced Micro Devices, Inc. (NYSE: AMD) is a global semiconductor company with facilities globally.
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