Advanced Micro Devices Inc. (AMD) Downgraded by Vetr Inc. to “Buy”
Advanced Micro Devices Inc. (NASDAQ:AMD) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $7.51 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective indicates a potential upside of 11.26% from the stock’s previous close.
Several other equities research analysts also recently issued reports on AMD. Jefferies Group restated a “buy” rating and issued a $5.50 price target (up from $4.50) on shares of Advanced Micro Devices in a report on Monday, June 13th. Credit Suisse Group AG increased their price target on Advanced Micro Devices from $3.50 to $5.50 and gave the stock an “underperform” rating in a report on Friday, July 22nd. Morgan Stanley restated a “sell” rating and issued a $2.65 price target on shares of Advanced Micro Devices in a report on Wednesday, June 15th. JPMorgan Chase & Co. restated a “hold” rating and issued a $6.00 price target on shares of Advanced Micro Devices in a report on Tuesday, July 26th. Finally, Canaccord Genuity restated a “buy” rating and issued a $6.00 price target on shares of Advanced Micro Devices in a report on Tuesday, July 19th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.58.
Advanced Micro Devices (NASDAQ:AMD) traded down 3.02% during mid-day trading on Monday, reaching $6.75. 33,058,999 shares of the company were exchanged. Advanced Micro Devices has a 12 month low of $1.75 and a 12 month high of $8.00. The company’s market cap is $5.37 billion. The stock’s 50-day moving average is $6.80 and its 200-day moving average is $5.08.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/advanced-micro-devices-inc-amd-downgraded-by-vetr-inc-to-buy.html
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company earned $1.03 billion during the quarter, compared to the consensus estimate of $951.89 million. Equities analysts expect that Advanced Micro Devices will post ($0.19) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. acquired a new position in shares of Advanced Micro Devices during the second quarter valued at about $14,815,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Advanced Micro Devices during the first quarter valued at about $15,658,000. Societe Generale acquired a new position in shares of Advanced Micro Devices during the second quarter valued at about $937,000. BlackRock Group LTD raised 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 valued at $1,282,000 after buying an additional 87,752 shares during the last quarter. Finally, BlackRock Inc. raised 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 valued at $774,000 after buying an additional 17,962 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Advanced Micro Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.