Advanced Micro Devices Downgraded to Underperform at Sanford C. Bernstein (AMD)
Advanced Micro Devices (NYSE:AMD) was downgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, AR Network reports.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch cut their price target on shares of Advanced Micro Devices from $6.00 to $4.50 in a research note to investors on Monday, October 21st. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Advanced Micro Devices in a research note to investors on Friday, October 18th. They now have a $4.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Advanced Micro Devices in a research note to investors on Friday, October 18th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.51.
Shares of Advanced Micro Devices (NYSE:AMD) traded up 3.41% on Tuesday, hitting $3.34. The stock had a trading volume of 43,346,276 shares. Advanced Micro Devices has a one year low of $1.81 and a one year high of $4.65. The stock has a 50-day moving average of $3.64 and a 200-day moving average of $3.4. The company’s market cap is $2.528 billion.
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 in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $-0.12 EPS for the current fiscal year.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.