Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at Bank of America Corporation
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corporation in a report issued on Tuesday. They presently have a $18.00 price target on the semiconductor manufacturer’s stock. Bank of America Corporation’s price objective suggests a potential upside of 62.31% from the stock’s current price.
Several other research firms have also weighed in on AMD. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 25th. TheStreet raised shares of Advanced Micro Devices from a “d” rating to a “c-” rating in a report on Tuesday, October 24th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, July 28th. Robert W. Baird started coverage on shares of Advanced Micro Devices in a report on Wednesday, July 26th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Advanced Micro Devices in a report on Friday, July 21st. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Advanced Micro Devices presently has a consensus rating of “Hold” and a consensus target price of $14.05.
Advanced Micro Devices (NASDAQ:AMD) traded down $0.03 on Tuesday, hitting $11.09. 23,712,328 shares of the stock traded hands, compared to its average volume of 68,735,438. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.20 and a current ratio of 1.70. Advanced Micro Devices has a fifty-two week low of $6.79 and a fifty-two week high of $15.65.
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In other news, CEO Lisa T. Su sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $12.04, for a total transaction of $3,612,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,157,362 shares of the company’s stock, valued at approximately $25,974,638.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Forrest Eugene Norrod sold 25,701 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $11.21, for a total transaction of $288,108.21. Following the transaction, the senior vice president now directly owns 729,971 shares of the company’s stock, valued at $8,182,974.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,312,587 shares of company stock valued at $16,030,861. 1.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. grew its stake in shares of Advanced Micro Devices by 21.9% during the 1st quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after acquiring an additional 15,661,774 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $184,767,000. Wellington Management Group LLP grew its stake in shares of Advanced Micro Devices by 5,764.6% during the 1st quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after acquiring an additional 13,939,494 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $129,039,000. Finally, Renaissance Technologies LLC grew its stake in shares of Advanced Micro Devices by 253.2% during the 4th quarter. Renaissance Technologies LLC now owns 11,530,326 shares of the semiconductor manufacturer’s stock worth $130,754,000 after acquiring an additional 8,265,725 shares in the last quarter. 58.63% of the stock is owned by institutional investors.
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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