Advanced Micro Devices, Inc. (AMD) Price Target Raised to $10.00
Advanced Micro Devices, Inc. (NASDAQ:AMD) had its target price increased by equities researchers at Barclays PLC from $9.00 to $10.00 in a note issued to investors on Wednesday. The brokerage currently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays PLC’s price objective would suggest a potential downside of 25.48% from the stock’s current price.
Other research analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, June 23rd. Northland Securities reiterated a “buy” rating and issued a $17.50 price objective on shares of Advanced Micro Devices in a research note on Friday, June 23rd. BMO Capital Markets cut shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 target price on the stock. in a report on Wednesday, July 26th. Wells Fargo & Company reissued an “outperform” rating and set a $15.00 target price on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Jefferies Group LLC set a $19.00 target price on Advanced Micro Devices and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Five investment 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 company’s stock. Advanced Micro Devices has a consensus rating of “Hold” and a consensus price target of $13.93.
Advanced Micro Devices (AMD) traded down 1.04% during mid-day trading on Wednesday, reaching $13.28. 31,870,384 shares of the company’s stock were exchanged. The stock’s market cap is $12.57 billion. Advanced Micro Devices has a 52-week low of $6.22 and a 52-week high of $15.65. The company has a 50-day moving average of $12.68 and a 200-day moving average of $12.74.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate 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 revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts anticipate that Advanced Micro Devices will post $0.10 earnings per share for the current year.
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In other 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 transaction, the chief accounting officer now owns 31,291 shares in the company, valued at $380,811.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darla M. Smith sold 8,172 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $12.85, for a total transaction of $105,010.20. Following the completion of the transaction, the insider now owns 34,934 shares in the company, valued at approximately $448,901.90. The disclosure for this sale can be found here. Insiders sold 42,074,793 shares of company stock valued at $21,024,000,026,636,200 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in Advanced Micro Devices during the 1st quarter valued at $100,000. Intellectus Partners LLC bought a new stake in Advanced Micro Devices in the 1st quarter worth $116,000. Bluestein R H & Co. bought a new stake in Advanced Micro Devices in the 1st quarter worth $146,000. Harbor Advisors LLC bought a new stake in Advanced Micro Devices in the 1st quarter worth $146,000. Finally, K.J. Harrison & Partners Inc bought a new stake in Advanced Micro Devices in the 2nd quarter worth $125,000. Institutional investors own 59.12% 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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