Advanced Micro Devices Lowered to “Underperform” at Credit Suisse (AMD)
Advanced Micro Devices (NYSE:AMD) was downgraded by Credit Suisse from a “neutral” rating to an “underperform” rating in a research note issued on Friday, AnalystRatings.Net reports. They currently have a $3.00 target price on the stock. Credit Suisse’s price target would suggest a potential downside of 26.65% from the company’s current price.
Shares of Advanced Micro Devices (NYSE:AMD) opened at 4.09 on Friday. Advanced Micro Devices has a 52 week low of $1.81 and a 52 week high of $4.65. The stock has a 50-day moving average of $3.76 and a 200-day moving average of $3.65. The company’s market cap is $2.945 billion. Advanced Micro Devices also was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 29,187 call options on the stock. This is an increase of 130% compared to the typical volume of 12,717 call options.
Advanced Micro Devices (NYSE:AMD) last announced its earnings results on Thursday, October 17th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.02. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted ($0.20) earnings per share. Advanced Micro Devices’s revenue was up 15.1% compared to the same quarter last year. Analysts expect that Advanced Micro Devices will post $-0.14 EPS for the current fiscal year.
A number of other firms have also recently commented on AMD. Analysts at Bank of America Corp. downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $4.50 price target on the stock, down previously from $6.00. Separately, analysts at Wedbush upgraded shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $5.00 price target on the stock, up previously from $4.50. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Advanced Micro Devices in a research note to investors on Monday, October 7th. They now have a $6.00 price target on the stock. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. Advanced Micro Devices has a consensus rating of “Hold” and a consensus target price of $4.40.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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