Merrill Lynch Downgrades Advanced Micro Devices to Neutral (AMD)
Advanced Micro Devices (NYSE:AMD) was downgraded by research analysts at Merrill Lynch from a “buy” rating to a “neutral” rating in a report released on Friday, Stock Ratings Network reports.
A number of other firms have also recently commented on AMD. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Advanced Micro Devices in a research note to investors on Friday. They now have a $4.50 price target on the stock, down previously from $5.00. Separately, 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. Finally, 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. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.40.
Shares of Advanced Micro Devices (NYSE:AMD) traded down 11.98% on Friday, hitting $3.5999. 69,469,136 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 has a 50-day moving average of $3.76 and a 200-day moving average of $3.65. The company’s market cap is $2.592 billion. Advanced Micro Devices also was the recipient of some unusual options trading activity on Wednesday. Investors acquired 29,187 call options on the company. This is an increase of approximately 130% compared to the typical daily volume of 12,717 call options.
Advanced Micro Devices (NYSE:AMD) last released its earnings data 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. On average, analysts predict that Advanced Micro Devices will post $-0.14 earnings per share for the current fiscal year.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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