Advanced Micro Devices (AMD) Lifted to Positive at MED

MED upgraded shares of Advanced Micro Devices (NASDAQ:AMD) to a positive rating in a research note issued to investors on Thursday morning, The Fly reports.

A number of other research analysts have also issued reports on AMD. BidaskClub upgraded shares of Advanced Micro Devices from a buy rating to a strong-buy rating in a research report on Wednesday, June 13th. Cowen increased their target price on shares of Advanced Micro Devices from $18.00 to $21.00 and gave the stock an outperform rating in a research report on Friday, June 15th. Morgan Stanley increased their target price on shares of Advanced Micro Devices from $8.00 to $11.00 and gave the stock an underweight rating in a research report on Wednesday, June 20th. Bank of America increased their target price on shares of Advanced Micro Devices from $17.00 to $20.00 and gave the stock a buy rating in a research report on Monday, June 25th. Finally, Benchmark initiated coverage on shares of Advanced Micro Devices in a research report on Tuesday, June 26th. They set a hold rating on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $23.58.

Shares of NASDAQ:AMD opened at $27.35 on Thursday. Advanced Micro Devices has a 12-month low of $9.04 and a 12-month high of $34.14. The company has a market cap of $30.11 billion, a price-to-earnings ratio of 341.88, a price-to-earnings-growth ratio of 6.00 and a beta of 3.10. The company has a current ratio of 1.66, a quick ratio of 1.26 and a debt-to-equity ratio of 1.33.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Advanced Micro Devices had a net margin of 5.04% and a return on equity of 52.84%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 52.6% compared to the same quarter last year. Equities analysts expect that Advanced Micro Devices will post 0.37 earnings per share for the current fiscal year.

In related news, Director Mubadala Investment Co Pjsc sold 22,000,000 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $19.33, for a total transaction of $425,260,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Devinder Kumar sold 113,519 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $19.37, for a total transaction of $2,198,863.03. The disclosure for this sale can be found here. Insiders have sold a total of 24,760,400 shares of company stock worth $484,346,146 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. State of Wisconsin Investment Board lifted its stake in Advanced Micro Devices by 7.4% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,061,554 shares of the semiconductor manufacturer’s stock valued at $15,913,000 after purchasing an additional 73,081 shares during the last quarter. OmniStar Financial Group Inc. bought a new position in Advanced Micro Devices in the 2nd quarter valued at approximately $316,000. Barometer Capital Management Inc. bought a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $3,265,000. Renaissance Technologies LLC lifted its stake in Advanced Micro Devices by 541.5% in the 2nd quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after purchasing an additional 6,269,500 shares during the last quarter. Finally, Formula Growth Ltd. bought a new position in Advanced Micro Devices in the 2nd quarter valued at approximately $10,043,000. 65.96% of the stock is owned by institutional investors and hedge funds.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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The Fly

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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