Advanced Micro Devices Inc. (AMD) Rating Increased to Equal Weight at Barclays PLC
Advanced Micro Devices Inc. (NASDAQ:AMD) was upgraded by equities researchers at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued on Friday.
A number of other brokerages have also recently commented on AMD. Vetr upgraded shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $7.46 target price for the company in a research report on Tuesday, October 11th. Sanford C. Bernstein began coverage on shares of Advanced Micro Devices in a report on Wednesday, September 21st. They issued an “underperform” rating and a $3.00 price objective for the company. Northland Securities reissued an “outperform” rating and issued a $8.50 price objective on shares of Advanced Micro Devices in a report on Sunday, October 23rd. Deutsche Bank AG upped their price objective on shares of Advanced Micro Devices from $4.00 to $5.00 and gave the company a “hold” rating in a report on Wednesday, September 14th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the stock. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $6.09.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.79 on Friday. The company’s market cap is $6.29 billion. Advanced Micro Devices has a one year low of $1.75 and a one year high of $8.00. The company’s 50-day moving average is $6.82 and its 200-day moving average is $5.83.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Thursday, October 20th. The semiconductor manufacturer reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.23 billion. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts predict that Advanced Micro Devices will post ($0.15) EPS for the current year.
In related news, SVP Mark D. Papermaster sold 271,454 shares of Advanced Micro Devices stock in a transaction on Friday, November 4th. The shares were sold at an average price of $6.61, for a total value of $1,794,310.94. Following the transaction, the senior vice president now directly owns 1,032,492 shares in the company, valued at approximately $6,824,772.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Devinder Kumar sold 312,469 shares of Advanced Micro Devices stock in a transaction on Friday, November 4th. The shares were sold at an average price of $6.62, for a total transaction of $2,068,544.78. Following the completion of the transaction, the chief financial officer now owns 478,890 shares in the company, valued at $3,170,251.80. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $2,853,000. Emerald Acquisition Ltd. bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $14,815,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Advanced Micro Devices by 21.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,415,437 shares of the semiconductor manufacturer’s stock valued at $12,415,000 after buying an additional 430,280 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Advanced Micro Devices by 13.4% in the second quarter. Principal Financial Group Inc. now owns 2,401,219 shares of the semiconductor manufacturer’s stock valued at $12,343,000 after buying an additional 284,597 shares during the last quarter. Finally, Societe Generale bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $937,000. Hedge funds and other institutional investors own 44.28% of the company’s stock.
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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