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Equities researchers at ISI Group reduced their target price on shares of Advanced Micro Devices (NYSE:AMD) from $4.50 to $4.00 in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has an “underperform” rating on the stock. ISI Group’s price objective points to a potential downside of 12.47% from the stock’s previous close.

Advanced Micro Devices (NYSE:AMD) opened at 4.57 on Friday. Advanced Micro Devices has a 1-year low of $3.04 and a 1-year high of $4.80. The stock’s 50-day moving average is $4.21 and its 200-day moving average is $3.97. The company has a market cap of $3.483 billion and a P/E ratio of 97.08. Advanced Micro Devices also was the target of a large growth in short interest in 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. Currently, 18.1% of the company’s shares are sold short. Based on an average daily volume of 24,851,459 shares, the days-to-cover ratio is currently 4.5 days.

Advanced Micro Devices (NYSE:AMD) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted ($0.09) earnings per share. Advanced Micro Devices’s revenue was up 24.1% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post $0.19 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Bank of America downgraded shares of Advanced Micro Devices from a “neutral” rating to an “underperform” rating in a research note on Friday. They now have a $4.00 price target on the stock. Separately, 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. Finally, 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. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Advanced Micro Devices currently has an average rating of “Hold” and a consensus 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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