Investment analysts at Sanford C. Bernstein started coverage on shares of Advanced Micro Devices Inc. (NASDAQ:AMD) in a research note issued to investors on Wednesday. The brokerage set an “underperform” rating and a $3.00 price target on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s price target suggests a potential downside of 51.38% from the stock’s current price.

AMD has been the topic of a number of other reports. Vetr raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $4.41 price objective on the stock in a research note on Wednesday, May 25th. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $4.25 price target on shares of Advanced Micro Devices in a research note on Thursday, May 26th. MKM Partners reaffirmed a “buy” rating and set a $5.00 price target (up from $4.00) on shares of Advanced Micro Devices in a research note on Monday, June 13th. Jefferies Group reaffirmed a “buy” rating and set a $5.50 price target (up from $4.50) on shares of Advanced Micro Devices in a research note on Monday, June 13th. Finally, Morgan Stanley reaffirmed a “sell” rating and set a $2.65 price target on shares of Advanced Micro Devices in a research note on Wednesday, June 15th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of “Hold” and a consensus target price of $5.52.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Shares of Advanced Micro Devices (NASDAQ:AMD) traded up 2.27% during trading on Wednesday, reaching $6.31. 28,617,909 shares of the company’s stock were exchanged. The stock’s market capitalization is $5.02 billion. Advanced Micro Devices has a 52 week low of $1.65 and a 52 week high of $8.00. The stock has a 50 day moving average price of $6.78 and a 200-day moving average price of $4.73.

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Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The company earned $1.03 billion during the quarter, compared to analysts’ expectations of $951.89 million. Analysts predict that Advanced Micro Devices will post ($0.20) earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Advanced Micro Devices by 524.7% in the second quarter. FMR LLC now owns 10,765,800 shares of the semiconductor manufacturer’s stock worth $55,336,000 after buying an additional 9,042,500 shares in the last quarter. Teachers Advisors Inc. increased its position in Advanced Micro Devices by 752.7% in the second quarter. Teachers Advisors Inc. now owns 8,332,968 shares of the semiconductor manufacturer’s stock worth $42,831,000 after buying an additional 7,355,716 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Advanced Micro Devices during the first quarter worth approximately $15,658,000. TIAA CREF Investment Management LLC increased its position in Advanced Micro Devices by 183.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,693,260 shares of the semiconductor manufacturer’s stock worth $29,263,000 after buying an additional 3,686,043 shares in the last quarter. Finally, Myriad Asset Management Ltd. acquired a new position in Advanced Micro Devices during the second quarter worth approximately $15,093,000. 41.45% of the stock is owned by hedge funds and other institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

5 Day Chart for NASDAQ:AMD

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