Sanford C. Bernstein began 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 target price would indicate a potential downside of 51.38% from the company’s current price.

AMD has been the topic of a number of other research reports. Vetr downgraded shares of Advanced Micro Devices from a “sell” rating to a “strong sell” rating and set a $6.54 price target on the stock. in a research note on Monday, August 22nd. Susquehanna initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday. They issued a “neutral” rating and a $6.50 target price on the stock. MKM Partners reissued a “buy” rating and issued a $5.00 target price (up previously from $4.00) on shares of Advanced Micro Devices in a research note on Monday, June 13th. Jefferies Group reissued a “buy” rating and issued a $6.75 target price (up previously from $5.50) on shares of Advanced Micro Devices in a research note on Friday, July 22nd. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Advanced Micro Devices in a research note on Wednesday, September 7th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.52.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD) traded up 0.65% during trading on Wednesday, reaching $6.21. 20,699,356 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $6.78 and a 200 day moving average price of $4.73. The stock’s market capitalization is $4.94 billion. Advanced Micro Devices has a 1-year low of $1.65 and a 1-year high of $8.00.

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Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $951.89 million. Equities research analysts expect that Advanced Micro Devices will post ($0.20) earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC bought a new stake in Advanced Micro Devices during the second quarter worth approximately $116,000. Gilder Gagnon Howe & Co. LLC increased its stake in Advanced Micro Devices by 7.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 25,072 shares of the semiconductor manufacturer’s stock worth $129,000 after buying an additional 1,800 shares during the period. Courier Capital Corp increased its stake in Advanced Micro Devices by 0.8% in the second quarter. Courier Capital Corp now owns 25,200 shares of the semiconductor manufacturer’s stock worth $130,000 after buying an additional 200 shares during the period. Calvert Investment Management Inc. bought a new stake in Advanced Micro Devices during the second quarter worth approximately $173,000. Finally, GSA Capital Partners LLP bought a new stake in Advanced Micro Devices during the second quarter worth approximately $179,000. Institutional investors own 41.45% of the company’s stock.

Advanced Micro Devices Company Profile

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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