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Advanced Micro Devices (NYSE:AMD) was upgraded by equities researchers at Ned Davis Research from a “sell” rating to a “neutral” rating in a research report issued on Monday, American Banking and Market News reports.

Shares of Advanced Micro Devices (NYSE:AMD) traded up 2.58% during mid-day trading on Monday, hitting $3.97. 14,787,132 shares of the company’s stock traded hands. Advanced Micro Devices has a 52-week low of $3.04 and a 52-week high of $4.65. The stock’s 50-day moving average is $3.98 and its 200-day moving average is $3.75. The company has a market cap of $3.025 billion and a price-to-earnings ratio of 80.62. Advanced Micro Devices also saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 114,641,198 shares, a decrease of 5.0% from the April 15th total of 120,635,807 shares. Based on an average daily volume of 36,489,991 shares, the days-to-cover ratio is currently 3.1 days. Approximately 18.6% of the company’s stock are short sold.

Advanced Micro Devices (NYSE:AMD) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted ($0.13) earnings per share. Advanced Micro Devices’s revenue was up 28.4% compared to the same quarter last year. Analysts expect that Advanced Micro Devices will post $0.19 EPS for the current fiscal year.

A number of other firms have also recently commented on AMD. Analysts at Argus reiterated a “hold” rating on shares of Advanced Micro Devices in a research note on Tuesday, April 22nd. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Advanced Micro Devices in a research note on Monday, April 21st. They now have a $3.00 price target on the stock. Finally, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of Advanced Micro Devices in a research note on Monday, April 21st. They now have a $6.00 price target on the stock, up previously from $5.50. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Advanced Micro Devices presently has a consensus rating of “Hold” and a consensus target price of $4.89.

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

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