Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at Jefferies Group
Advanced Micro Devices Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a research report issued to clients and investors on Monday.
Several other equities analysts have also issued reports on the company. Sanford C. Bernstein lowered Advanced Micro Devices from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research note on Friday, July 8th. Canaccord Genuity reiterated a “buy” rating and issued a $8.50 price objective on shares of Advanced Micro Devices in a research note on Monday, September 12th. Vetr lowered Advanced Micro Devices from a “sell” rating to a “strong sell” rating and set a $6.54 price objective on the stock. in a research note on Monday, August 22nd. MKM Partners upped their price objective on Advanced Micro Devices from $5.00 to $6.30 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Advanced Micro Devices in a research note on Sunday, July 10th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.65.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.75 on Monday. Advanced Micro Devices has a 52 week low of $1.75 and a 52 week high of $8.00. The firm’s 50-day moving average price is $6.67 and its 200 day moving average price is $5.20. The company’s market cap is $5.37 billion.
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Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $951.89 million. On average, equities analysts predict that Advanced Micro Devices will post ($0.19) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at about $2,853,000. Emerald Acquisition Ltd. purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at about $14,815,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Advanced Micro Devices during the first quarter valued at about $15,658,000. Societe Generale purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at about $937,000. Finally, BlackRock Group LTD increased its stake 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 period. Hedge funds and other institutional investors own 41.43% 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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