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Advanced Micro Devices (NYSE:AMD) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday. They currently have a $4.00 price objective on the stock. Bank of America’s target price would indicate a potential downside of 12.47% from the company’s current price.

Advanced Micro Devices (NYSE:AMD) opened at 4.57 on Friday. Advanced Micro Devices has a 52-week low of $3.04 and a 52-week high of $4.80. The stock has a 50-day moving average of $4.21 and a 200-day moving average of $3.97. The company has a market cap of $3.483 billion and a price-to-earnings ratio of 97.08. Advanced Micro Devices also saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 111,697,555 shares, a growth of 2.5% from the June 13th total of 108,959,521 shares. Based on an average trading volume of 24,851,459 shares, the days-to-cover ratio is currently 4.5 days. Currently, 18.1% of the company’s shares are sold short.

Advanced Micro Devices (NYSE:AMD) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $0.19 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on AMD. Analysts at FBR Capital Markets downgraded shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating in a research note on Friday. They now have a $4.50 price target on the stock, down previously from $6.00. Separately, analysts at Zacks upgraded shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 9th. They now have a $5.00 price target on the stock. Finally, analysts at Pacific Crest downgraded shares of Advanced Micro Devices from a “sector perform” rating to an “underperform” rating in a research note on Monday, June 23rd. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.63.

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

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