Advanced Micro Devices Inc. (NASDAQ:AMD) was upgraded by analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $5.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $3.00. Sanford C. Bernstein’s price objective would indicate a potential downside of 18.96% from the stock’s previous close.
A number of other analysts also recently issued reports on AMD. Wells Fargo & Co. reissued an “outperform” rating and set a $4.25 price target on shares of Advanced Micro Devices in a report on Thursday, May 26th. Deutsche Bank AG increased their price target on shares of Advanced Micro Devices from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday, September 14th. Canaccord Genuity reissued a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, August 23rd. Mizuho reissued a “neutral” rating and set a $7.00 price target (up from $5.50) on shares of Advanced Micro Devices in a report on Thursday, September 1st. Finally, Vetr raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $4.56 price target on the stock in a report on Monday, June 13th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Advanced Micro Devices presently has an average rating of “Hold” and an average target price of $5.62.
Shares of Advanced Micro Devices (NASDAQ:AMD) traded up 0.16% during trading on Tuesday, hitting $6.17. 28,990,858 shares of the company’s stock were exchanged. The company’s market cap is $4.91 billion. Advanced Micro Devices has a 12-month low of $1.65 and a 12-month high of $8.00. The company has a 50-day moving average of $6.78 and a 200-day moving average of $4.73.
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Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business earned $1.03 billion during the quarter, compared to analysts’ expectations of $951.89 million. On average, equities analysts expect that Advanced Micro Devices will post ($0.20) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. BlackRock Fund Advisors raised its position in shares of Advanced Micro Devices by 4.2% in the second quarter. BlackRock Fund Advisors now owns 34,592,453 shares of the semiconductor manufacturer’s stock valued at $177,805,000 after buying an additional 1,401,568 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Advanced Micro Devices by 4.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 19,338,040 shares of the semiconductor manufacturer’s stock valued at $99,398,000 after buying an additional 778,145 shares during the period. FMR LLC raised its position in shares of Advanced Micro Devices by 524.7% in the second quarter. FMR LLC now owns 10,765,800 shares of the semiconductor manufacturer’s stock valued at $55,336,000 after buying an additional 9,042,500 shares during the period. Teachers Advisors Inc. raised its position in Advanced Micro Devices by 752.7% in the second quarter. Teachers Advisors Inc. now owns 8,332,968 shares of the semiconductor manufacturer’s stock valued at $42,831,000 after buying an additional 7,355,716 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Advanced Micro Devices by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 6,719,935 shares of the semiconductor manufacturer’s stock valued at $34,540,000 after buying an additional 161,696 shares during the last quarter. 46.63% 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 a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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