Advanced Micro Devices’s Neutral Rating Reaffirmed at Citigroup Inc. (AMD)
Advanced Micro Devices (NYSE:AMD)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup Inc. in a report released on Friday, American Banking News reports. They currently have a $4.50 target price on the stock, down from their previous target price of $5.00. Citigroup Inc.’s price target points to a potential upside of 10.02% from the company’s current price.
The analysts wrote, “While AMD’s revenue and EPS results/guidance were above consensus, investors are unlikely to be impressed, presumably because a more substantial beat was expected in light of AMD’s new gaming momentum. Indeed, AMD’s graphics revenues (including gaming) grew 110% q/q, reaching a record proportion of sales (46%). But with PC revenues down an estimated 7.6% (vs. Intel up 3.5%), AMD lost 80bps of PC related market share, offsetting gaming. With momentum now seasonally slowing, we find little reason to become excited about AMD at this time.”
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’s 50-day moving average is $3.76 and its 200-day moving average is $3.65. The company’s market cap is $2.945 billion. Advanced Micro Devices also was the recipient of unusually large options trading on Wednesday. Investors acquired 29,187 call options on the company. This is an increase of approximately 130% compared to the average 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.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Advanced Micro Devices from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. They now have a $3.00 price target on the stock. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently 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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