Advanced Micro Devices Inc. (AMD) Research Coverage Started at Barclays PLC
Analysts at Barclays PLC initiated coverage on shares of Advanced Micro Devices Inc. (NASDAQ:AMD) in a research note issued to investors on Friday. The firm set an “equal weight” rating and a $7.00 price target on the semiconductor manufacturer’s stock. Barclays PLC’s price target would indicate a potential upside of 3.70% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other analysts also recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Advanced Micro Devices from a “market perform” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research note on Friday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $8.50 target price on shares of Advanced Micro Devices in a research report on Monday, September 12th. Vetr lowered shares of Advanced Micro Devices from a “sell” rating to a “strong sell” rating and set a $6.54 target price on the stock. in a research report on Monday, August 22nd. MKM Partners raised their target price on shares of Advanced Micro Devices from $5.00 to $6.30 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Advanced Micro Devices in a research report on Sunday, July 10th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of “Hold” and an average price target of $5.58.
Advanced Micro Devices (NASDAQ:AMD) traded down 3.02% during trading on Friday, reaching $6.75. The company had a trading volume of 32,328,770 shares. The stock’s market capitalization is $5.37 billion. Advanced Micro Devices has a 12-month low of $1.75 and a 12-month high of $8.00. The stock has a 50 day moving average of $6.80 and a 200-day moving average of $5.05.
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Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm earned $1.03 billion during the quarter, compared to the consensus estimate of $951.89 million. On average, analysts forecast that Advanced Micro Devices will post ($0.19) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Advanced Micro Devices during the second quarter worth $14,815,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Advanced Micro Devices during the first quarter worth $15,658,000. Societe Generale purchased a new position in shares of Advanced Micro Devices during the second quarter worth $937,000. BlackRock Group LTD increased its position in shares of Advanced Micro Devices by 24.2% in the first quarter. BlackRock Group LTD now owns 449,771 shares of the semiconductor manufacturer’s stock worth $1,282,000 after buying an additional 87,752 shares during the period. Finally, BlackRock Inc. increased its position in shares of Advanced Micro Devices by 7.1% in the first quarter. BlackRock Inc. now owns 271,804 shares of the semiconductor manufacturer’s stock worth $774,000 after buying an additional 17,962 shares during the period. Institutional investors and hedge funds 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.
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