Advanced Micro Devices Inc. (AMD) Upgraded by Vetr Inc. to Strong-Buy
Advanced Micro Devices Inc. (NASDAQ:AMD) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $7.46 target price on the semiconductor manufacturer’s stock. Vetr‘s price target would suggest a potential upside of 14.86% from the stock’s previous close.
AMD has been the subject of a number of other reports. Susquehanna assumed coverage on Advanced Micro Devices in a research note on Tuesday, September 20th. They set a “neutral” rating and a $6.50 price objective for the company. MKM Partners restated a “buy” rating and set a $5.00 price objective (up from $4.00) on shares of Advanced Micro Devices in a research note on Monday, June 13th. Sanford C. Bernstein upgraded Advanced Micro Devices from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $3.00 to $5.00 in a research note on Tuesday, September 20th. Jefferies Group restated a “buy” rating and set a $6.75 price objective (up from $5.50) on shares of Advanced Micro Devices in a research note on Friday, July 22nd. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Advanced Micro Devices in a research note on Wednesday, September 7th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.58.
Advanced Micro Devices (NASDAQ:AMD) traded down 4.97% during midday trading on Tuesday, hitting $6.50. The company’s stock had a trading volume of 32,510,803 shares. Advanced Micro Devices has a one year low of $1.75 and a one year high of $8.00. The company’s market cap is $5.17 billion. The company’s 50-day moving average is $6.74 and its 200 day moving average is $5.15.
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Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, analysts predict that Advanced Micro Devices will post ($0.19) EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in shares of Advanced Micro Devices by 3.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 222,162 shares of the semiconductor manufacturer’s stock worth $1,535,000 after buying an additional 7,894 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Advanced Micro Devices during the second quarter worth approximately $1,507,000. Calvert Investment Management Inc. bought a new position in shares of Advanced Micro Devices during the second quarter worth approximately $173,000. Amalgamated Bank increased its position in shares of Advanced Micro Devices by 13.3% in the second quarter. Amalgamated Bank now owns 80,094 shares of the semiconductor manufacturer’s stock worth $527,000 after buying an additional 9,401 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Advanced Micro Devices by 14.3% in the second quarter. Legal & General Group Plc now owns 820,549 shares of the semiconductor manufacturer’s stock worth $4,210,000 after buying an additional 102,881 shares during the last quarter. Hedge funds and other 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.
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