Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at Bank of America Corporation
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America Corporation in a note issued to investors on Wednesday. They currently have a $18.00 price objective on the semiconductor manufacturer’s stock. Bank of America Corporation’s price objective would suggest a potential upside of 42.52% from the company’s current price.
Other research analysts have also issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Advanced Micro Devices in a report on Tuesday, May 2nd. Rosenblatt Securities increased their price target on Advanced Micro Devices from $16.50 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, May 1st. Mizuho increased their price target on Advanced Micro Devices from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $17.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 3rd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.18.
Shares of Advanced Micro Devices (NASDAQ AMD) traded down 3.00% during midday trading on Wednesday, reaching $12.63. The company had a trading volume of 64,610,635 shares. The stock’s 50 day moving average is $13.40 and its 200-day moving average is $12.92. Advanced Micro Devices has a 12-month low of $5.66 and a 12-month high of $15.65. The stock’s market capitalization is $11.96 billion.
Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.
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In other news, insider Mark D. Papermaster sold 38,819 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $12.70, for a total value of $493,001.30. Following the completion of the transaction, the insider now directly owns 930,839 shares of the company’s stock, valued at $11,821,655.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Darla M. Smith sold 11,810 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $12.17, for a total value of $143,727.70. Following the completion of the transaction, the chief accounting officer now directly owns 31,291 shares of the company’s stock, valued at $380,811.47. The disclosure for this sale can be found here. Insiders sold 41,790,341 shares of company stock valued at $21,024,000,023,062,700 over the last three months. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Monashee Investment Management LLC acquired a new stake in Advanced Micro Devices during the third quarter valued at about $9,536,000. Trexquant Investment LP acquired a new stake in Advanced Micro Devices during the first quarter valued at about $706,000. BlackRock Inc. raised its stake in Advanced Micro Devices by 39.9% in the third quarter. BlackRock Inc. now owns 528,631 shares of the semiconductor manufacturer’s stock valued at $3,653,000 after buying an additional 150,726 shares in the last quarter. Retirement Systems of Alabama raised its stake in Advanced Micro Devices by 14.1% in the third quarter. Retirement Systems of Alabama now owns 946,325 shares of the semiconductor manufacturer’s stock valued at $6,539,000 after buying an additional 117,205 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in Advanced Micro Devices by 1.8% in the fourth quarter. Nationwide Fund Advisors now owns 1,444,027 shares of the semiconductor manufacturer’s stock valued at $4,144,000 after buying an additional 25,741 shares in the last quarter. 56.37% of the stock is owned by hedge funds and other institutional investors.
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.
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