Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued on Tuesday, July 18th. They presently have a $20.00 price target on the semiconductor manufacturer’s stock. Rosenblatt Securities’ target price points to a potential upside of 63.53% from the company’s previous close.
AMD has been the topic of several other research reports. Morgan Stanley restated an “equal weight” rating on shares of Advanced Micro Devices in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $10.60 price objective on shares of Advanced Micro Devices in a research note on Monday, June 12th. Sanford C. Bernstein reiterated a “sell” rating on shares of Advanced Micro Devices in a research note on Tuesday, April 25th. Wells Fargo & Company reiterated an “outperform” rating and set a $15.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $15.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 17th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $14.18.
Advanced Micro Devices (AMD) traded up 0.91% during mid-day trading on Tuesday, reaching $12.23. The company’s stock had a trading volume of 63,558,840 shares. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65. The stock’s market cap is $11.58 billion. The company has a 50 day moving average of $13.47 and a 200-day moving average of $12.85.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Equities analysts forecast that Advanced Micro Devices will post $0.10 earnings per share for the current year.
In related news, CFO Devinder Kumar sold 100,634 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $10.85, for a total transaction of $1,091,878.90. Following the completion of the transaction, the chief financial officer now directly owns 704,311 shares of the company’s stock, valued at approximately $7,641,774.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James Robert Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $10.86, for a total value of $217,200.00. Following the transaction, the senior vice president now directly owns 300,334 shares of the company’s stock, valued at $3,261,627.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,664,647 shares of company stock valued at $21,024,000,021,520,200. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Trexquant Investment LP acquired a new position in Advanced Micro Devices during the first quarter valued at $706,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Advanced Micro Devices during the first quarter valued at $148,000. Janney Montgomery Scott LLC raised its position in Advanced Micro Devices by 91.0% in the first quarter. Janney Montgomery Scott LLC now owns 143,912 shares of the semiconductor manufacturer’s stock valued at $2,094,000 after buying an additional 68,565 shares during the period. UBS Asset Management Americas Inc. raised its position in Advanced Micro Devices by 392.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,995,898 shares of the semiconductor manufacturer’s stock valued at $29,040,000 after buying an additional 1,590,293 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in Advanced Micro Devices by 8.3% in the second quarter. Xact Kapitalforvaltning AB now owns 117,437 shares of the semiconductor manufacturer’s stock valued at $1,466,000 after buying an additional 9,046 shares during the period. 57.34% of the stock is 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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