Advanced Micro Devices, Inc. (AMD) Upgraded to Strong-Buy by Vetr Inc.
Advanced Micro Devices, Inc. (NASDAQ:AMD) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage currently has a $15.99 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective indicates a potential upside of 13.57% from the stock’s previous close.
A number of other analysts have also recently weighed in on AMD. Bank of America Corporation restated a “buy” rating and set a $16.50 target price on shares of Advanced Micro Devices in a report on Friday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $16.50 target price on shares of Advanced Micro Devices in a report on Sunday, March 5th. Canaccord Genuity raised their target price on shares of Advanced Micro Devices to $17.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Jefferies Group LLC raised their target price on shares of Advanced Micro Devices to $16.00 and gave the stock a “buy” rating in a report on Monday, March 20th. Finally, Susquehanna Bancshares Inc raised their target price on shares of Advanced Micro Devices from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, March 20th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices has a consensus rating of “Hold” and a consensus price target of $13.07.
Advanced Micro Devices (NASDAQ:AMD) traded down 0.64% during trading on Monday, reaching $14.08. The company had a trading volume of 101,012,533 shares. The stock’s market capitalization is $13.31 billion. Advanced Micro Devices has a 1-year low of $4.65 and a 1-year high of $15.55. The firm has a 50-day moving average of $11.30 and a 200-day moving average of $12.16.
Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $984 million during the quarter, compared to analysts’ expectations of $984.40 million. Advanced Micro Devices had a negative net margin of 10.42% and a negative return on equity of 76.29%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. On average, analysts anticipate that Advanced Micro Devices will post $0.07 EPS for the current fiscal year.
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In related news, CFO Devinder Kumar sold 100,634 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $10.85, for a total value of $1,091,878.90. Following the transaction, the chief financial officer now directly owns 704,311 shares in the company, valued at approximately $7,641,774.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James Robert Anderson sold 160,122 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $12.48, for a total transaction of $1,998,322.56. Following the completion of the transaction, the senior vice president now owns 622,485 shares in the company, valued at $7,768,612.80. The disclosure for this sale can be found here. Insiders have sold a total of 618,478 shares of company stock worth $7,134,277 in the last 90 days. 1.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMD. Skandinaviska Enskilda Banken AB publ purchased a new position in Advanced Micro Devices during the first quarter worth about $1,272,000. Public Employees Retirement System of Ohio raised its position in Advanced Micro Devices by 441.7% in the first quarter. Public Employees Retirement System of Ohio now owns 192,613 shares of the semiconductor manufacturer’s stock worth $2,803,000 after buying an additional 157,057 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in Advanced Micro Devices during the first quarter worth about $343,000. North Star Asset Management Inc. raised its position in Advanced Micro Devices by 1.5% in the first quarter. North Star Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $223,000 after buying an additional 233 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in Advanced Micro Devices during the first quarter worth about $319,000. Institutional investors and hedge funds own 57.43% 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 standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors 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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