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Analysts at FBR Capital Markets reduced their price objective on shares of Advanced Micro Devices (NYSE:AMD) from $6.00 to $5.50 in a research report issued to clients and investors on Wednesday, reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective points to a potential upside of 31.89% from the company’s current price.

Shares of Advanced Micro Devices (NYSE:AMD) traded down 10.55% on Wednesday, hitting $3.73. 16,365,448 shares of the company’s stock traded hands. Advanced Micro Devices has a 52 week low of $2.26 and a 52 week high of $4.65. The stock’s 50-day moving average is $3.87 and its 200-day moving average is $3.72. The company’s market cap is $2.699 billion.

Advanced Micro Devices (NYSE:AMD) last announced its earnings results 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. Analysts expect that Advanced Micro Devices will post $-0.12 EPS for the current fiscal year.

A number of other firms have also recently commented on AMD. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Advanced Micro Devices in a research note to investors on Wednesday. They now have a $2.50 price target on the stock. Separately, 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. Finally, 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. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.54.

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

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