Advanced Micro Devices, Inc. (NASDAQ:AMD) Receives Outperform Rating from Wells Fargo & Company
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “outperform” rating restated by equities research analysts at Wells Fargo & Company in a research note issued to investors on Wednesday. They presently have a $18.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $15.00. Wells Fargo & Company’s price target points to a potential upside of 27.57% from the company’s previous close.
AMD has been the subject of a number of other research reports. Morgan Stanley reiterated an “equal weight” rating on shares of Advanced Micro Devices in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $10.60 price target on shares of Advanced Micro Devices in a report on Monday, June 12th. Sanford C. Bernstein reissued a “sell” rating on shares of Advanced Micro Devices in a report on Tuesday, April 25th. BMO Capital Markets reissued an “outperform” rating and issued a $15.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Finally, Mizuho reissued a “buy” rating and issued a $14.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.64.
Shares of Advanced Micro Devices (AMD) traded up 5.53% during trading on Wednesday, hitting $14.89. The stock had a trading volume of 195,287,175 shares. The firm’s market cap is $14.07 billion. The stock has a 50-day moving average of $13.04 and a 200 day moving average of $12.60. Advanced Micro Devices has a 12-month low of $5.45 and a 12-month high of $15.65. Advanced Micro Devices also was the target of some unusual options trading on Tuesday. Traders purchased 127,375 put options on the company. This represents an increase of approximately 209% compared to the average daily volume of 41,215 put options.
Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Advanced Micro Devices had a negative return on equity of 76.29% and a negative net margin of 10.42%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post $0.07 earnings per share for the current fiscal year.
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In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $13.21, for a total transaction of $825,625.00. Following the transaction, the senior vice president now directly owns 646,061 shares in the company, valued at $8,534,465.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP James Robert Anderson sold 160,122 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $12.48, for a total value of $1,998,322.56. Following 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. In the last three months, insiders have sold 618,478 shares of company stock valued at $7,151,477. Insiders own 1.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in Advanced Micro Devices during the first quarter worth approximately $100,000. Intellectus Partners LLC acquired a new position in Advanced Micro Devices during the first quarter worth approximately $116,000. Bluestein R H & Co. acquired a new position in Advanced Micro Devices during the first quarter worth approximately $146,000. Harbor Advisors LLC acquired a new position in Advanced Micro Devices during the first quarter worth approximately $146,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Advanced Micro Devices during the first quarter worth approximately $148,000. Institutional investors own 56.93% 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.
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