Advanced Micro Devices, Inc. (AMD) Receives “Top Pick” Rating from Jefferies Group LLC
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “top pick” rating restated by research analysts at Jefferies Group LLC in a report released on Thursday. They currently have a $13.74 target price on the semiconductor manufacturer’s stock, down from their prior target price of $19.00. Jefferies Group LLC’s target price indicates a potential downside of 0.15% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, June 23rd. Northland Securities restated a “buy” rating and issued a $17.50 target price on shares of Advanced Micro Devices in a report on Friday, June 23rd. BMO Capital Markets lowered shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 target price for the company. in a report on Wednesday, July 26th. Wells Fargo & Company restated an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.89.
Advanced Micro Devices (AMD) traded down 2.40% during mid-day trading on Thursday, hitting $13.41. 166,821,947 shares of the stock were exchanged. Advanced Micro Devices has a 52 week low of $6.14 and a 52 week high of $15.65. The stock’s market capitalization is $12.70 billion. The company has a 50-day moving average of $12.68 and a 200-day moving average of $12.78. Advanced Micro Devices also was the target of some unusual options trading activity on Monday. Stock traders bought 40,016 put options on the stock. This represents an increase of approximately 130% compared to the typical volume of 17,387 put options.
Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) EPS. On average, equities analysts predict that Advanced Micro Devices will post $0.10 EPS for the current fiscal year.
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In related news, CAO Darla M. Smith sold 11,810 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $12.17, for a total value of $143,727.70. Following the completion of the sale, the chief accounting officer now directly owns 31,291 shares in the company, valued at approximately $380,811.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total transaction of $21,024,000,000,000,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,074,793 shares of company stock worth $21,024,000,026,654,800. Insiders own 1.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in Advanced Micro Devices in the 1st quarter worth approximately $100,000. Bluestein R H & Co. acquired a new stake in Advanced Micro Devices in the 1st quarter worth approximately $146,000. Harbor Advisors LLC acquired a new stake in Advanced Micro Devices in the 1st quarter worth approximately $146,000. K.J. Harrison & Partners Inc acquired a new stake in Advanced Micro Devices in the 2nd quarter worth approximately $125,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Advanced Micro Devices in the 1st quarter worth approximately $148,000. Institutional investors own 59.11% 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.
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