Advanced Micro Devices’ (AMD) Outperform Rating Reiterated at Wells Fargo & Company
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “outperform” rating restated by stock analysts at Wells Fargo & Company in a report released on Monday. They presently have a $18.00 target price on the semiconductor manufacturer’s stock. Wells Fargo & Company’s target price points to a potential upside of 35.34% from the stock’s previous close.
A number of other equities research analysts have also recently commented on AMD. Bank of America Corporation reiterated a “buy” rating and issued a $18.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, August 16th. Barclays PLC reiterated an “underweight” rating and issued a $9.00 target price on shares of Advanced Micro Devices in a research report on Thursday, August 10th. Pacific Crest reiterated an “equal weight” rating on shares of Advanced Micro Devices in a research report on Tuesday, June 20th. Jefferies Group LLC reiterated a “top pick” rating and issued a $13.74 target price (down from $19.00) on shares of Advanced Micro Devices in a research report on Thursday. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $12.00 target price on shares of Advanced Micro Devices in a research report on Thursday. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Advanced Micro Devices currently has an average rating of “Hold” and an average price target of $13.89.
Shares of Advanced Micro Devices (NASDAQ:AMD) traded down 4.29% during trading on Monday, hitting $12.73. 54,432,194 shares of the company’s stock were exchanged. Advanced Micro Devices has a 12-month low of $6.22 and a 12-month high of $15.65. The company’s market cap is $12.05 billion. The company has a 50-day moving average of $12.68 and a 200-day moving average of $12.78.
Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, equities analysts expect that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.
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In related news, CAO Darla M. Smith sold 11,810 shares of the firm’s 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 sale, the chief accounting officer now owns 31,291 shares of the company’s stock, valued at $380,811.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $15.42, for a total transaction of $963,750.00. Following the completion of the sale, the senior vice president now directly owns 600,301 shares in the company, valued at approximately $9,256,641.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,054,793 shares of company stock worth $21,024,000,026,371,000. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Advanced Micro Devices by 6.6% during the second quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock worth $1,161,796,000 after purchasing an additional 5,797,819 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Advanced Micro Devices during the second quarter worth approximately $184,767,000. Wellington Management Group LLP raised its holdings in Advanced Micro Devices by 5,764.6% during the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after purchasing an additional 13,939,494 shares in the last quarter. Geode Capital Management LLC raised its holdings in Advanced Micro Devices by 31.7% during the first quarter. Geode Capital Management LLC now owns 9,210,323 shares of the semiconductor manufacturer’s stock worth $133,854,000 after purchasing an additional 2,215,111 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Advanced Micro Devices by 39.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 5,151,851 shares of the semiconductor manufacturer’s stock worth $74,960,000 after purchasing an additional 1,455,622 shares in the last quarter. 59.11% of the stock is currently owned by 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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