Advanced Micro Devices Price Target Lowered to $4.50 at Merrill Lynch (AMD)
Investment analysts at Merrill Lynch dropped their price target on shares of Advanced Micro Devices (NYSE:AMD) from $6.00 to $4.50 in a note issued to investors on Monday, American Banking and Market News reports. Merrill Lynch’s price target would indicate a potential upside of 34.73% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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, October 18th. They now have an “in-line” rating 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 analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.51.
Advanced Micro Devices (NYSE:AMD) traded up 3.41% during mid-day trading on Monday, 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’s 50-day moving average is $3.64 and its 200-day moving average is $3.4. The company’s market cap is $2.528 billion.
Advanced Micro Devices (NYSE:AMD) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Advanced Micro Devices will post $-0.12 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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