Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America Corporation in a research report issued to clients and investors on Friday. They currently have a $16.50 target price on the semiconductor manufacturer’s stock. Bank of America Corporation’s target price suggests a potential upside of 23.50% from the stock’s current price.

A number of other equities research analysts have also weighed in on AMD. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Advanced Micro Devices in a research note on Tuesday. Jefferies Group LLC reiterated a “buy” rating and set a $16.00 target price on shares of Advanced Micro Devices in a research note on Thursday. MKM Partners reiterated a “neutral” rating and set a $13.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, June 28th. Canaccord Genuity reiterated a “buy” rating and set a $17.00 target price on shares of Advanced Micro Devices in a research note on Tuesday. Finally, Pacific Crest reiterated an “equal weight” rating on shares of Advanced Micro Devices in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices currently has a consensus rating of “Hold” and a consensus price target of $13.07.

Shares of Advanced Micro Devices (NASDAQ AMD) opened at 13.36 on Friday. The stock has a 50 day moving average price of $11.98 and a 200 day moving average price of $12.33. Advanced Micro Devices has a 52 week low of $4.82 and a 52 week high of $15.55. The stock’s market capitalization is $12.63 billion.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Monday, May 1st. The semiconductor manufacturer reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $984 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. On average, equities research analysts expect that Advanced Micro Devices will post $0.07 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Advanced Micro Devices, Inc. (AMD) Receives “Buy” Rating from Bank of America Corporation” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/07/08/advanced-micro-devices-inc-amd-receives-buy-rating-from-bank-of-america-corporation.html.

In other news, Director Bruce L. Claflin sold 20,000 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $13.33, for a total transaction of $266,600.00. Following the sale, the director now directly owns 638,902 shares in the company, valued at approximately $8,516,563.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darla M. Smith sold 17,028 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $10.25, for a total transaction of $174,537.00. Following the sale, the insider now owns 29,147 shares in the company, valued at $298,756.75. The disclosure for this sale can be found here. Insiders have sold a total of 638,478 shares of company stock worth $7,418,077 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at about $706,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at about $148,000. Janney Montgomery Scott LLC boosted its stake in shares of Advanced Micro Devices by 91.0% in the first quarter. Janney Montgomery Scott LLC now owns 143,912 shares of the semiconductor manufacturer’s stock valued at $2,094,000 after buying an additional 68,565 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at about $2,348,000. Finally, Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock valued at $1,270,140,000 after buying an additional 15,661,774 shares in the last quarter. Hedge funds and other institutional investors own 56.81% of the company’s stock.

About Advanced Micro Devices

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.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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.