Advanced Micro Devices, Inc. (AMD) Receives Average Rating of “Hold” from Brokerages
Advanced Micro Devices, Inc. (NASDAQ:AMD) has earned a consensus recommendation of “Hold” from the thirty-two research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.86.
A number of equities analysts have weighed in on AMD shares. Northland Securities reissued a “buy” rating and issued a $17.50 target price on shares of Advanced Micro Devices in a research report on Friday, June 23rd. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Advanced Micro Devices in a research note on Friday, June 23rd. BMO Capital Markets downgraded shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 price target on the stock. in a report on Wednesday, July 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Jefferies Group LLC set a $19.00 price target on shares of Advanced Micro Devices and gave the stock a “buy” rating in a research note on Wednesday, July 26th.
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Advanced Micro Devices (NASDAQ:AMD) traded down 0.931% during trading on Wednesday, reaching $13.295. 27,204,548 shares of the company’s stock were exchanged. The stock’s market cap is $12.59 billion. The firm has a 50 day moving average of $12.68 and a 200-day moving average of $12.74. Advanced Micro Devices has a 12 month low of $6.22 and a 12 month high of $15.65.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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 revenue was up 19.0% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.
In related news, insider Darla M. Smith sold 8,172 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $12.85, for a total value of $105,010.20. Following the transaction, the insider now owns 34,934 shares of the company’s stock, valued at approximately $448,901.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total transaction of $963,750.00. Following the completion of the transaction, 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 three months, insiders sold 42,074,793 shares of company stock valued at $21,024,000,026,636,200. 1.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after purchasing an additional 15,661,774 shares in the last quarter. Baillie Gifford & Co. purchased a new position in Advanced Micro Devices during the 2nd quarter worth $184,767,000. MARSHALL WACE ASIA Ltd purchased a new position in Advanced Micro Devices during the 1st quarter worth $63,654,000. Marshall Wace North America L.P. purchased a new position in Advanced Micro Devices during the 1st quarter worth $63,654,000. Finally, Janus Henderson Group PLC increased its holdings in Advanced Micro Devices by 3,815.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,805 shares of the semiconductor manufacturer’s stock worth $47,845,000 after purchasing an additional 3,735,900 shares during the period. 59.12% of the stock is currently owned by institutional investors and hedge funds.
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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