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Advanced Micro Devices (NYSE:AMD)‘s stock had its “underweight” rating reiterated by research analysts at Morgan Stanley in a report released on Wednesday, American Banking and Market News reports. They currently have a $2.50 price objective on the stock. Morgan Stanley’s price objective would suggest a potential downside of 40.05% from the stock’s previous close.

The analysts wrote, “We estimate that AMD shipped 6.8 mm units (27 mm run rate) to the console market in 4Q, for $562 mm revenues, with total 2013 builds of 12 mm units vs. 7 mm sell in (10-12 week lead time),” the report noted. “Year 2 of the Xbox 360/PS3 cycle shipped 17.8 mm units, and despite stronger Year 1 numbers for this gen (due to higher supply and lower price points), we don’t believe the TAM has expanded. We expect shipments of 18.7 mm units in 2014, below 4Q run rates. We still expect a small EPS loss in 2014.”

Shares of Advanced Micro Devices (NYSE:AMD) traded down 10.55% on Wednesday, hitting $3.73. The stock had a trading volume of 60,315,292 shares. Advanced Micro Devices has a 52-week low of $2.26 and a 52-week high of $4.65. The stock has a 50-day moving average of $3.87 and a 200-day moving average of $3.72. The company’s market cap is $2.699 billion.

Advanced Micro Devices (NYSE:AMD) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted ($0.14) earnings per share. Advanced Micro Devices’s revenue was up 37.1% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post $-0.12 earnings per share for the current fiscal year.

A number of other firms have also recently commented on AMD. Analysts at Stifel Nicolaus initiated coverage on shares of Advanced Micro Devices in a research note to investors on Monday, December 23rd. They set a “hold” rating on the stock. Separately, analysts at Oppenheimer downgraded shares of Advanced Micro Devices from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, December 16th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Advanced Micro Devices in a research note to investors on Thursday, December 12th. They now have a $3.75 price target on the stock. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $4.58.

Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.

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