Advanced Micro Devices Rating Reiterated by Deutsche Bank (AMD)
Advanced Micro Devices (NYSE:AMD)‘s stock had its “hold” rating reaffirmed by research analysts at Deutsche Bank in a report released on Friday, ARN reports. They currently have a $4.00 price target on the stock. Deutsche Bank’s price target would indicate a potential downside of 2.20% from the company’s current price.
Shares of Advanced Micro Devices (NYSE:AMD) traded down 12.35% during mid-day trading on Friday, hitting $3.585. 83,385,688 shares of the company’s stock traded hands. Advanced Micro Devices has a 52-week low of $1.81 and a 52-week high of $4.65. The stock’s 50-day moving average is $3.76 and its 200-day moving average is $3.65. The company’s market cap is $2.581 billion. Advanced Micro Devices also was the target of unusually large options trading on Wednesday. Stock investors purchased 29,187 call options on the company. This is an increase of 130% compared to the typical volume of 12,717 call options.
Advanced Micro Devices (NYSE:AMD) last posted its quarterly 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 Sanford C. Bernstein cut their price target on shares of Advanced Micro Devices from $4.00 to $3.00 in a research note to investors on Friday. They now have an “in-line” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Advanced Micro Devices in a research note to investors on Friday. Finally, analysts at Merrill Lynch downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.45.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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